White hat

Ronin: The attacker extracted $12 million in cryptocurrency assets and is negotiating with white hat hackers

ChainCatcher news, Ronin posted on social media that earlier today, white hats notified Ronin that there might be a vulnerability in the Ronin bridge. After verifying the report, the bridge was paused about 40 minutes after the first on-chain operation was detected. The attacker extracted approximately 4000 ETH and 2 million USDC, worth about 12 million dollars, which is the maximum amount of ETH and USDC that can be withdrawn in a single transaction from the bridge. The bridging limit is an important safeguard to enhance the security of large fund withdrawals and effectively prevent further damage caused by this vulnerability.Ronin stated that due to an issue introduced during the bridge upgrade after the governance process was deployed, the cross-chain bridge misunderstood the voting threshold required by the bridging operators to withdraw funds. Efforts are currently underway to find a solution to the root cause, and the bridge update will undergo strict review before being decided upon by a vote from the bridging operators. Negotiations are ongoing with these seemingly white hat actors, who have responded in good faith. Regardless of the outcome of the negotiations, all user funds are safe, and any shortfall will be re-deposited when the bridge reopens. A post-incident analysis will be shared next week, detailing the technical aspects and planned measures to prevent similar incidents in the future.

Velocore: Discovered another vulnerability and took white hat action, affected LPs can claim funds based on the snapshot

ChainCatcher message, Velocore stated on X that after the recent exploitation incident, most of Velocore's functionalities have been disabled to prevent further losses, leaving only the withdrawal function. The front-end exchange was unable to correct the imbalance and de-pegging of the stable pool through arbitrage, resulting in additional losses for LPs.On the Linea chain, since the admin privileges of the Diamond Proxy contract have been revoked, we can only change the exchange rate to zero and cannot make fundamental updates. This requires us to prevent further potential damage and provide a unified withdrawal method for all users. Upon re-examining the contract, we discovered another vulnerability that could lead to the theft of all assets. To mitigate this risk, we conducted a white-hat operation and securely deposited the assets into a separate Safe vault. Affected LPs can now claim funds based on the LP snapshots of the relevant blocks.The Telos chain was not attacked and was patched without waiting for a time lock. Assets will be returned 1:1 to their owners, unrelated to the overall LP compensation. Efforts are underway to accurately capture snapshots and update the claims functionality accordingly. Regarding compensation for LP victims from the previous exploitation, it will be decided by community vote whether to restart or liquidate. All remaining assets will be consolidated into a single vault for collective decision-making.
ChainCatcher Building the Web3 world with innovators