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Arbitrum Rewards White Hat Hacker For Detecting Vulnerability

Arbitrum has rewarded a white hat hacker for discovering a vulnerability in its payment code. The hacker has been rewarded 400 ETH. Arbitrum saw daily transactions hitting an...
Arbitrum Rewards White Hat Hacker For Detecting Vulnerability © Reuters. Arbitrum Rewards White Hat Hacker For Detecting Vulnerability
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  • Arbitrum has rewarded a white hat hacker for discovering a vulnerability in its payment code.
  • The hacker has been rewarded 400 ETH.
  • Arbitrum saw daily transactions hitting an all-time high during the month of September.

A popular Layer 2 solution for Ethereum, Arbitrum has rewarded a white hat hacker 400 ETH for discovering a vulnerability in Arbitrum’s payment code, which otherwise could have cost Arbitrum nearly $470 million.

The white hat hacker, who goes by the name Riptide, wrote on Twitter (NYSE:TWTR):

Riptide, who discovers vulnerabilities within smart contracts, said that the million-dollar vulnerability could have potentially affected anyone who wanted to exchange funds from Ethereum to Arbitrum Nitro.

After discovering the vulnerability, the hacker chose to report it and ask for a reward. In return, they asked for 400 ETH, which is nearly $540,000, whereas Arbitrum offered a $2 million reward as its maximum tier.

In August, Arbitrum went through a major update. Riptide thoroughly scanned the Arbitrum Nitro code a few weeks before the release. While doing so, the hacker found a vulnerability where the bridging contract was able to accept deposits, even though the contract was initialized previously.

Riptide further commented:

A client can send a message to the sequencer by signing and publishing an L1 transaction in the Arbitrum chain’s Delayed Inbox. This functionality is most commonly used for depositing ETH or tokens via a bridge.

Nonetheless, Arbitrum saw its activity quadruple after the Nitro upgrade, which took place on August 31. The Layer 2 solution saw daily transactions hitting an all-time high during the month of September.

Meanwhile, OpenSea is also set to launch support for the Arbitrum layer and new NFT projects on September 21, 2022. It will support collections like Smolverse, the GMX Blueberry Club, and Diamond Pepes by dopeio. The Arbitrum NFT support will go live today on OpenSea, where creators have been suggested to set their creator fees before any transactions occur.

The post Arbitrum Rewards White Hat Hacker For Detecting Vulnerability appeared first on Coin Edition.

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    EUR/USD 0.9726 ↑ Sell  
    GBP/USD 1.0865 ↑ Sell  
    USD/JPY 144.16 ↑ Sell  
    AUD/USD 0.6514 ↑ Sell  
    USD/CAD 1.3614 ↑ Buy  
    EUR/JPY 140.22 ↑ Sell  
    EUR/CHF 0.9497 ↑ Sell  
    Gold 1,667.00 Neutral  
    Silver 18.887 ↑ Buy  
    Copper 3.3820 ↑ Buy  
    Crude Oil WTI 81.80 Buy  
    Brent Oil 87.98 ↑ Buy  
    Natural Gas 7.015 ↑ Sell  
    US Coffee C 227.80 ↑ Sell  
    Euro Stoxx 50 3,335.30 Neutral  
    S&P 500 3,719.04 ↑ Sell  
    DAX 12,183.28 Neutral  
    FTSE 100 7,005.39 Neutral  
    Hang Seng 17,250.88 Buy  
    Small Cap 2000 1,725.13 ↑ Buy  
    IBEX 35 7,442.20 Neutral  
    BASF 39.415 ↑ Buy  
    Bayer 48.19 Neutral  
    Allianz 160.72 ↑ Buy  
    Adidas 130.24 ↑ Buy  
    Lufthansa 5.772 ↑ Buy  
    Siemens AG 99.46 ↑ Buy  
    Deutsche Bank AG 7.854 ↑ Sell  
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