Ronin Bridge Exploit of $10 Million Caused by Faulty Upgrade Script — Verichains

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Cause of the Vulnerability
  2. How the Attack Happened
  3. Consequences and Resolution


    4. The $10 million Ronin bridge exploit on August 6 was caused by a faulty upgrade deployment script, according to blockchain security firm Verichains.

    Cause of the Vulnerability

    The upgrade reduced the voting threshold for validators to zero, allowing any user to withdraw from the bridge without a signature. Verichains states that the error occurred due to the incorrect initialization of the totalWeight variable.

    How the Attack Happened

    The attacker attempted to exploit this flaw but was front-run by an MEV bot, which actually carried out the attack, probably unintentionally. The bot’s owner later returned most of the funds to the Ronin team.

    Consequences and Resolution

    Verichains’ analysis reveals the risks of interacting with upgradeable smart contracts. The network could have lost the full amount had the attacker paid more in gas and thus avoided the front-run.

    Due to the faulty upgrade script, Ronin bridge users were able to withdraw funds without validator signatures. This incident highlights the potential risks when dealing with upgradeable smart contracts.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

AI Researchers Reduce Quantum Attack Resource Benchmark by 86 Times

chest

Researchers have reduced the computing resources needed for a potential quantum attack on Bitcoin and Ethereum by 86 times.

user avatarJesper Sørensen

Regulators Urge Faster Cybersecurity Measures in Banking Sector

chest

Regulatory bodies are urging banks to adopt quicker patching and incident response strategies to combat evolving cyber threats.

user avatarRajesh Kumar

Advanced AI Accelerates Cyberattack Risks for Banks

chest

A new paper highlights the increasing threat posed by advanced AI to banks' cybersecurity, emphasizing the need for faster software repairs.

user avatarLucas Weissmann

US Stock Market Faces Turmoil Amid Rising Bond Yields and Oil Prices

chest

The US stock market is facing significant declines due to rising bond yields and increasing oil prices, influenced by geopolitical tensions.

user avatarFilippo Romano

Zoomex Launches World Trading Championship 2026 with Record Prize Pool

chest

Zoomex announces the launch of the World Trading Championship 2026 with a record prize pool of 5,000,000 USDT, featuring an expanded multi-asset competition format.

user avatarEmily Carter

Meta Platforms' Shares Surge Following AI Assistant Launch

chest

Meta Platforms' shares rose over 6% after the launch of its AI assistant, Muse, which helps users manage tasks and goals.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.