Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky - Ep.336
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
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Episode Links
Arjun Bhuptani
- Twitter: https://twitter.com/arjunbhuptani
Ronin Hack
- Latest update from Ronin
- Community alert explaining the hack:
- Etherscan of the hack taking place
- Reactions
-
- Mudit Gupta – the hacker is sophisticated
- Arjun Bhuptani – why multisig bridges are vulnerable
- Ed Zitron – social engineering
- Information on Ronin
- Why bridging is hard
- Arjun’s latest article on Optimistic bridges
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