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

Cardano Reports Progress on Leios Scaling Design in Latest Development Update

Cardano's November 6 development report highlights progress on the Leios scaling design, focusing on endorserblock production and chain selection checks.

user avatarAisha Farooq

XRP Momentum Indicators Show Oversold Conditions

XRP has faced significant selling pressure, with its RSI down to 26, indicating oversold conditions and potential for recovery.

user avatarBayarjavkhlan Ganbaatar

Analyst Identifies Potential Recovery for XRP Price

Analyst Ali Martinez identifies a descending channel pattern suggesting XRP could recover towards 130, contingent on the 114 support level holding.

user avatarMohamed Farouk

FCA Opens Application Window for Banks to Enter Regulated Crypto Activities

The Financial Conduct Authority (FCA) has announced that wholesale banks can apply to extend their permissions into regulated cryptoasset activities under the new UK framework.

user avatarElias Mukuru

Legislative Focus on Bitcoin Reserves Expected in 2027

Legislative focus on Bitcoin reserves is expected in 2027 as lawmakers in Florida and Texas prepare for new sessions, with key figures like Byron Donalds and James Talarico potentially influencing future policies.

user avatarDiego Alvarez

Bipartisan Support for Bitcoin Reserves Emerges After 2026 Midterms

Bipartisan support for Bitcoin reserves has emerged following the 2026 US midterm elections, with officials from both parties in Florida and Texas advocating for government-held Bitcoin reserves.

user avatarKenji Takahashi

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.