Rainbow Bridge Reveals Another Hacking Attempt, Here’s What Happened

Rainbow Bridge reveals experiencing another hacking attempt! See the details! On August 22nd, Alex Shevchenko, the CEO of Aurora Labs, made a Twitter thread explaining the almost hacking incident.

The Hacking Attempt

On August 22nd, the CEO of Aurora Labs, Alex Shevchenko, made a Twitter thread explaining the hacking attempt on Rainbow Bridge over the weekend. Rainbow Bridge connects NEAR protocol, Ethereum, and Aurora, which allow users to send tokens between the networks via smart contracts. In May, they also experienced a similar incident.

Shevchenko stated that in this attempt, there were no stolen funds. Instead, the hacker lost 5 ETH and stopped within 31 seconds.

According to Shevchenko, the attacker submitted a fabricated NEAR block to the Rainbow Bridge contract. During the transaction, there was a safe deposit of 5 ETH. The attacker might think there would be a slow reaction since it happened on Saturday morning.

Shevchenko said, “However, no reaction from humans was required. Automated watchdogs were challenging the malicious transaction, which resulted in an attacker losing his safe deposit.”

He added that the reaction only took 31 seconds to stop the attempt. In addition, Shevchenko also mentioned a similar hacking attempt they experienced in May.

Other Things To Note

In the Twitter thread, Alex Shevchenko mentioned four other things to note after the hacking attempt. One of them is the team thinking of increasing the safe deposits but later canceled the idea. He also reminded other WEB3 companies to be aware of hacking and to double-check the systems to avoid it.

The thread is also good information for the community as it can help them be more aware of hacking.

Related: Aurora Labs’ Head Of Product Shares His Experience In Crypto Scam!

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