{"id":6585,"date":"2022-08-22T15:52:55","date_gmt":"2022-08-22T15:52:55","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=6585"},"modified":"2022-08-22T15:52:56","modified_gmt":"2022-08-22T15:52:56","slug":"near-rainbow-bridge-defends-weekend-attack-costing-hacker-5-eth","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=6585","title":{"rendered":"NEAR Rainbow Bridge defends weekend attack costing hacker 5 ETH"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>CEO of Aurora Labs, Alex Shevchenko, announced Monday that the NEAR-ETH Rainbow Bridge defended an attack over the weekend resulting in the hacker losing 5ETH.<\/p>\n<p>Shevchenko claimed that the attack was \u201cmitigated automatically within 31 seconds,\u201d showcasing a highly effective defense mechanism to protect users\u2019 funds within the bridge.<\/p>\n<p>The Rainbow Bridge allows users to move $ETH, $NEAR, and ERC-20 tokens between networks. However, the bridge \u201cis based on trustless assumptions with no selected middleman to transfer messages or assets between chains.\u201d These assumptions mean that anyone can interact with smart contracts \u201cusually with bad intentions.\u201d<\/p>\n<p>However, bad actors can not submit \u201cincorrect\u201d information due to the need for \u201ca consensus of NEAR validators.\u201d Shevchenko continued,<\/p>\n<p>\u201cif someone tries to submit incorrect info, then it would be challenged by independent watchdogs, who also observe NEAR blockchain.\u201d<\/p>\n<p>A \u201cfabricated NEAR block\u201d was submitted over the weekend, requiring a 5 ETH deposit. The transaction was successfully submitted to Ethereum on Saturday, August 20, at 04:49:19 PM UTC. Shevchenko claimed that the \u201cattacker was hoping that it would be complicated to react to the attack early Saturday morning.\u201d However, the \u201cautomated watchdogs\u201d challenged the transactions causing the attacker to lose their deposit just 31 seconds later at 04:49:50 PM UTC.<\/p>\n<p>Following the response from the automated watchdog, Shevchenko asserted that the security team checked the bridge\u2019s status within the hour to confirm no further action was required.<\/p>\n<p>Shevchenko ended the thread with a statement directly to the attacker, saying,<\/p>\n<p>\u201cdear attacker, it\u2019s great to see the activity from your end, but if you actually want to make something good, instead of stealing users money and having lots of hard time trying to launder it; you have an alternative \u2014 the bug bounty.\u201d<\/p>\n<p>Original thread below:<\/p>\n<p lang=\"en\" dir=\"ltr\">\ud83e\uddf5 on the Rainbow Bridge attack during the weekend<br \/>TL; DR: similar to May attack; no user funds lost; attack was mitigated automatically within 31 seconds; attacker lost 5 ETH. pic.twitter.com\/clnE2l8Vgz<\/p>\n<p>\u2014 Alex Shevchenko \ud83c\uddfa\ud83c\udde6 (@AlexAuroraDev) August 22, 2022<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/near-rainbow-bridge-defends-weekend-attack-costing-hacker-5-eth\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO of Aurora Labs, Alex Shevchenko, announced Monday that the NEAR-ETH Rainbow Bridge defended an attack over the weekend resulting in the hacker losing 5ETH. Shevchenko claimed that the attack was \u201cmitigated automatically within 31 seconds,\u201d showcasing a highly effective defense mechanism to protect users\u2019 funds within the bridge. The Rainbow Bridge allows users to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-6585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6585"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6585\/revisions"}],"predecessor-version":[{"id":6587,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6585\/revisions\/6587"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/6586"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}