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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Celestia Developers Release Update for Corto Testing Environment

Celestia has released celestianode v0342corto for the Corto testing environment, aimed at operators participating in the testnet.

user avatarGustavo Mendoza

Starkware Releases Cairo v2195 for Developer Infrastructure

Starkware has launched Cairo v2195, a maintenance update focused on the developer toolchain for the Starknet ecosystem.

user avatarMiguel Rodriguez

Bitget Wallet Enhances Access to Tokenized Stocks with Reality Integration

Bitget Wallet has integrated Reality, allowing users access to over 1,700 tokenized stocks and ETFs.

user avatarRajesh Kumar

MEV Bot Foils Kelp DAO Exploit Attempt

An MEV bot named Yoink intercepted an exploit transaction targeting Kelp DAO's rsETH vault, preventing a theft of approximately $77 million.

user avatarLuis Flores

Kamino Finance Appoints Michael Weisz as CEO to Expand into Institutional Lending

Kamino Finance has appointed Michael Weisz as its new CEO to enhance its focus on US and institutional lending markets.

user avatarArif Mukhtar

New Debate on Zcash Developer Fund's Future

A new argument has emerged within the Zcash community regarding the future of its developer fund, with calls for it to expire after 2028.

user avatarMaria Gutierrez

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.