Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky - Ep.336
Unchained
English - April 01, 2022 09:45 - 43 minutes - ★★★★★ - 1.2K ratingsBusiness News News Tech News fintech bitcoin blockchain crypto cryptocurrency digitalasset digitalcurrency distributedledger ethereum laurashin Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Arjun Bhuptani, founder of Connext and bridging expert, breaks down the Ronin bridge exploit that led to a hacker stealing $600 million+ and discusses different bridge designs that could limit future attacks. Show highlights:
how a hacker was able to drain more than $600 million from Ronin bridge
the difference between DeFi hacks and the Ronin bridge exploit, which was a social-engineering based attack
why multisig bridges are susceptible to social engineering attacks
why Arjun believes the Ronin hacker is a sophisticated entity
whether Sky Mavis will be able to reimburse users
the different attack vectors for cross-chain bridges
what Arjun thinks about different bridge designs
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Coinchange: https://coinchange.io
OnJuno: https://onjuno.com/
Episode Links
Arjun Bhuptani
Twitter: https://twitter.com/arjunbhuptani
Ronin Hack
Latest update from Ronin
https://twitter.com/Ronin_Network/status/1509284549020188672
https://twitter.com/Psycheout86/status/1509134627319033863
Community alert explaining the hack:
https://roninblockchain.substack.com/p/community-alert-ronin-validators?s=w
Etherscan of the hack taking place
https://etherscan.io/address/0x098b716b8aaf21512996dc57eb0615e2383e2f96
Reactions
Mudit Gupta – the hacker is sophisticated
https://twitter.com/Mudit__Gupta/status/1508868214075310091
Arjun Bhuptani – why multisig bridges are vulnerable
https://twitter.com/arjunbhuptani/status/1508861771595059205
https://twitter.com/arjunbhuptani/status/1508861771595059205
Ed Zitron – social engineering
https://ez.substack.com/p/the-infinite-exploitation-of-cryptocurrency
Information on Ronin
https://twitter.com/joel_john95/status/1486809221962289154
Why bridging is hard
https://blog.connext.network/the-interoperability-trilemma-657c2cf69f17
Arjun’s latest article on Optimistic bridges
https://twitter.com/arjunbhuptani/status/1509582024104939523?t=4HCssiWfO5v65ehXRnWL3A&s=19
Learn more about your ad choices. Visit megaphone.fm/adchoices
Arjun Bhuptani, founder of Connext and bridging expert, breaks down the Ronin bridge exploit that led to a hacker stealing $600 million+ and discusses different bridge designs that could limit future attacks. Show highlights:
how a hacker was able to drain more than $600 million from Ronin bridge the difference between DeFi hacks and the Ronin bridge exploit, which was a social-engineering based attack why multisig bridges are susceptible to social engineering attacks why Arjun believes the Ronin hacker is a sophisticated entity whether Sky Mavis will be able to reimburse users the different attack vectors for cross-chain bridges what Arjun thinks about different bridge designsThank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Coinchange: https://coinchange.io
OnJuno: https://onjuno.com/
Episode Links
Arjun Bhuptani
Twitter: https://twitter.com/arjunbhuptani
Ronin Hack
Latest update from Roninhttps://twitter.com/Ronin_Network/status/1509284549020188672
https://twitter.com/Psycheout86/status/1509134627319033863 Community alert explaining the hack: https://roninblockchain.substack.com/p/community-alert-ronin-validators?s=w Etherscan of the hack taking place https://etherscan.io/address/0x098b716b8aaf21512996dc57eb0615e2383e2f96 Reactions Mudit Gupta – the hacker is sophisticated https://twitter.com/Mudit__Gupta/status/1508868214075310091 Arjun Bhuptani – why multisig bridges are vulnerable https://twitter.com/arjunbhuptani/status/1508861771595059205
https://twitter.com/arjunbhuptani/status/1508861771595059205 Ed Zitron – social engineering https://ez.substack.com/p/the-infinite-exploitation-of-cryptocurrency Information on Ronin
https://twitter.com/joel_john95/status/1486809221962289154 Why bridging is hard
https://blog.connext.network/the-interoperability-trilemma-657c2cf69f17 Arjun’s latest article on Optimistic bridges
https://twitter.com/arjunbhuptani/status/1509582024104939523?t=4HCssiWfO5v65ehXRnWL3A&s=19
Learn more about your ad choices. Visit megaphone.fm/adchoices