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Blockchain

Rainbow Bridge Continues To Be A Hacker’s Target

August 22, 2022 - Around 2 mins mins to read
Rainbow Bridge has been the target of hacker attacks. Also over the weekend, this is the destination of hackers, but the result this time is still bitter for the attacker.
Rainbow Bridge Continues To Be A Hacker's Target
Rainbow Bridge Continues To Be A Hacker's Target 2

On August 22, the account of Aurora CEO Alex Shevchenko posted a tweet related to the attack on Rainbow Bridge last weekend.

Accordingly, because the structure has no central unit (Trustless), there will be no third party to interfere in the data transmission between the two bridgeheads. What the infrastructure does, is interact with the contract of this bridge, to implement the process of transferring assets Cross-chain.

However, since the clients on the NEAR blockchain will be the ones to directly interact with the contracts to move assets, this becomes an attack point for the bad guys, where false information may be uploaded for the purpose of illicit gain.

Aurora’s CEO also shared that this attack is similar to the incident that took place in early May 2022, causing hackers to also suffer damage during the attack on the bridge’s platform.

According to the above tweet, the user’s assets are not affected at all.

Cross-chain has long become a lucrative bait for hackers, not only because the value of assets on the bridges is often very large, but also because of its easy nature to spread between many different chains.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Alex Shevchenko

aurora

Cross-chain

rainbow bridge

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Blockchain

Rainbow Bridge Continues To Be A Hacker’s Target

Rainbow Bridge has been the target of hacker attacks. Also over the weekend, this is the destination of hackers, but the result this time is still bitter for the attacker.
Rainbow Bridge Continues To Be A Hacker's Target
Rainbow Bridge Continues To Be A Hacker's Target 4

On August 22, the account of Aurora CEO Alex Shevchenko posted a tweet related to the attack on Rainbow Bridge last weekend.

Accordingly, because the structure has no central unit (Trustless), there will be no third party to interfere in the data transmission between the two bridgeheads. What the infrastructure does, is interact with the contract of this bridge, to implement the process of transferring assets Cross-chain.

However, since the clients on the NEAR blockchain will be the ones to directly interact with the contracts to move assets, this becomes an attack point for the bad guys, where false information may be uploaded for the purpose of illicit gain.

Aurora’s CEO also shared that this attack is similar to the incident that took place in early May 2022, causing hackers to also suffer damage during the attack on the bridge’s platform.

According to the above tweet, the user’s assets are not affected at all.

Cross-chain has long become a lucrative bait for hackers, not only because the value of assets on the bridges is often very large, but also because of its easy nature to spread between many different chains.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News