cryptocurrency

Near the rainbow bridge of the protocol successfully challenges exploitation

  • In just 31 seconds, hackers lost their investment in 5 Ethereum.
  • No money has been hacked despite the hacking efforts.

Over the weekend, there was another attempt to storm the Rainbow Bridge in near protocol. In a tweet yesterday, CEO of Aurora Labs Alex Shevchenko He said the project effectively repelled this attack, just as it halted the previous attempt in May.

The Rainbow Bridge connects Near Protocol, Ethereum, and Aurora, a Near Protocol metering solution compatible with the Ethereum virtual machine. This allows users to transfer funds across networks via smart contracts. Smart contracts can be handled by anyone, even malicious actors due to their automated and untrustworthy nature.

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Recent close attacks have seen the attackers suggest a fake ban early on Saturday morning, with a 5 ETH deposit required to confirm this. According to Shevchenko, the attacker may have expected a slow response time due to the morning attack time.

The CEO stated:

“The automated watchdogs were challenging malicious transactions, which resulted in the attacker losing their secure deposit.”

In just 31 seconds, the hackers lost their investment in 5 Ethereum, equivalent to almost $8000. No money has been hacked despite the hacking efforts.

Shevchenko further added:

“Dear attacker, it’s great to see the activity from your end, but if you really want to make something good, instead of stealing users’ money and having a lot of hard time trying to launder it; you have an alternative – the bug bounty.”

The Rainbow The Bridge was the target of an earlier attempt to breach the bridge, each of which was thwarted. These guards were alerted in May when someone attempted to breach the bridge. According to a Twitter thread published by Shevchenko in May, guards lost 2.5 Ethereum after challenging the fraudulent transaction.

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