- Aurora Lab blocks two potential cross-bridge hacks this year.
- Hackers lose five Ethereum while trying to hack NEAR protocol’s Rainbow Bridge.
- The automated security process blocks the fabricated transaction by hackers on the rainbow bridge.
Two Potential Cross-Bridge Hacks
On August 22, 2022, the hackers faced trouble by losing five Ethereum, which cost them around $8,000 at the current price. The rainbow bridge validator reduced the threat in just 31 seconds. On May 5, the first hack on the rainbow bridge got blocked, which cost around $5,000 to the hacker.
Alex Shevchenko who is the CEO of Aurora Labs tweeted in a thread about the potential hack in rainbow bridge. He described how the rainbow bridge expanded massive countermeasures in cross-bridge security.
On Twitter, he explained that the cross-bridge has independent watchdogs that also keep an eye on the NEAR protocol. The hack attack was declined in just 31 seconds, which led the attacker to repel the attack.
Shevchenko briefed that “Attacker was hoping that it would be complicated to react to the attack early Saturday morning,” while submitting a fabricated NEAR block to the rainbow bridge contract by putting a “safe deposit” of five ether.
In recent weeks, major NEAR-based projects developed in social activity. On the Twitter account of NEAR Daily, they shared the list of some projects that are related to the NEAR protocol.
In the list, the leading NEAR-based protocols with the most impressions are Orderly Network, Apollo42, Spin, and Jump DeFi. While the top gainers in recent 24 hours are Spolar, Oin, Tri, and Paras.
At present, the NEAR protocol is hiking 5.25% in the past 24 hours with a price of US$4.43.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.