Crucial bug in Ethereum Layer-2 Optimism, bounty paid $2 million

February 12, 2022

Nium Rolled out Crypto

Ethereum Layer-2 solution Optimism has repaired a crucial software bug in one of its smart contracts on Ethereum. On 2nd February, the Optimism board was warned by Jay Freeman of a serious bug in Optimism’s fork of the Ethereum Geth client software. The bug made it apparent for a vicious hacker to create ETH on Optimism by continually activating the SELF-DESTRUCT opcode on a pact that held ETH equilibrium. Opcodes are distinct kinds of instructions that can run on the Ethereum Virtual Machine (EVM) execution surroundings. Inspection of Optimism’s blockchain record carried out by the Optimism team indicated that the bug was not influenced. The bug looks like to have been accidentally accelerated on one occurrence by an employee at the prominent block explorer Etherscan. The report also stated that no available abundance ETH was developed.

According to the statement, within hours of assurance, the Optimism team formulated and deployed a fix on the Kovan and Mainnet networks, repairing the bug, and transmitted warnings to boards formulating accessible Optimism forks and to L1-L2 bridge providers. According to the Optimism’s Immunefi bug bounty program, the absolute percentage of over $2 million was paid out to Jay Freeman. The evidence that the utmost quantity was spent, suggests the gravity of the bug. The announcement does not speculate on apparent harms if the bug had been abused by a ferocious hacker. Maintaining the DeFi ecosystem against protection cases is evolving to be a complex thing, to substantial importance as an immediate effect of decentralization. Optimism’s blog post says it is evident that the ecosystem will shortly be far too huge for this to continue being practical. They will be remaking their exposure protocol to closely match Geth’s in the future.

The post also indicates the significance of bug bounty schemes. The Optimism company is presently in the method of establishing and assembling the following important release, Optimism: Bedrock Edition. As per Optimism, Bedrock Edition will considerably curtail the disagreement in the code base between Optimism’s Geth fork, and the official go-Ethereum consumer. It will not have to amend the original code and makes it small inclined to introduce bugs.

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