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Key Takeaways

  • Polygon was once hardforked on Dec. 5 to patch a vital vulnerability within the MRC20 contract.
  • Earlier than the hardfork, a hacker was once in a position to scouse borrow 801,601 MATIC because of the trojan horse.
  • Polygon has paid bounty rewards of about $3.46 million to moral hackers who notified the crew.

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The core construction crew at the back of Polygon has printed {that a} vital trojan horse in certainly one of its contracts was once in short exploited for $1.6 million.

Polygon Was once Secretly Hardforked to Patch Important Computer virus

Polygon, a Evidence-of-Stake sidechain on Ethereum, has reported {that a} vital trojan horse at the community was once fastened by means of a difficult fork on Dec. 5. Earlier than the hardfork, an unknown hacker stole $1.6 million in MATIC tokens, the crew printed in a Thursday weblog put up, 24 days after the development.

Within the first week of December, Leon Spacewalker and Whitehat2, two moral hackers related to trojan horse bounty platform Immunefi, notified Polygon of a vulnerability. The trojan horse was once discovered within the switch serve as of its MRC20 contract used for gasless transactions at the community.

After the trojan horse was once reported, Polygon patched it via leveraging a stealth laborious fork running along all of its validators and node operators. Even supposing the vulnerability was once fastened inside a couple of days, it might now not prevent an unknown black hat hacker from stealing 801,601 MATIC tokens value $1.6 million on the time. In a autopsy, the crew reported:

“Regardless of our very best efforts, a malicious hacker was once in a position to make use of the exploit to scouse borrow 801,601 MATIC prior to the community improve took impact.”

The location can have been a ways worse had this been not on time additional. Immunefi, which assisted Polygon in deploying the repair, said in a distinct weblog put up that if the Polygon trojan horse had now not been reported, malicious hackers can have tired more or less 9.2 billion MATIC tokens valued at about $20 billion on the time.

Commenting at the steps taken via the crew to patch the vulnerability, Polygon co-founder Jaynti Kanani stated the crew “made the most productive choices imaginable given the instances.”

Polygon has paid bounty rewards of about $3.46 million to the moral hackers who reported the trojan horse. As well as, the crew stated it is going to undergo the price of stolen MATIC tokens.

This was once now not the primary time when a vital trojan horse was once came upon and patched on Polygon. In October 2021, Polygon patched a vital trojan horse on its Plasma Bridge that had $850 million in locked finances.

Polygon didn’t explain why the hack was once now not made public for twenty-four days. Representatives from the undertaking didn’t reply to Crypto Briefing’s repeated requests for remark at press time.

Disclosure: On the time of writing, the writer of this piece owned ETH, MATIC, and different cryptocurrencies.

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