polygon (MATIC), reported that there was a “high-importance” vulnerability in the network’s Proof of Stake mechanism that could put billions of dollars at risk.
“Blank that Risked Billions of Dollars in Polygon Network Closed”
Niv Yehezke, the white-hat hacker who discovered the vulnerability, said that billions of dollars were at stake. With the closing of the gap, the hacker was paid $ 75,000. According to Immunefi’s report, the said vulnerability has been closed and can no longer be used.
The vulnerability, reported by white-hat hacker Niv Yehezkel, has been announced, according to Immunefi’s report.
Yehezkel, who won a prize of $ 75,000, said in a statement on Twitter that the deficit he found puts billions of dollars at risk.
Excited to share my research on the Polygon to Ethereum PoS bridge, in which I have found a consensus bypass vulnerability that puts billions of dollars at risk. Thank you Immunefi team and Polygon team for the rapid response, professional joint work and quick patching. https://t.co/AKT0HrbWOE
— niv (@invlpgtbl) February 21, 2022
According to Immunefi’s report, the vulnerability is due to Polygon’s Ethereum affects the Proof of Stake system of the smart contract. The malicious person who wanted to exploit this vulnerability had to meet three specific conditions. If these three conditions were met, the hacker could empty all the tokens held by the network’s deposit manager.
“A Generous Prize”
Duncon Townsend, CTO of Immunefi, said in his statement on the subject that the gap is now closed and investors’ money is not in danger. Townsend also stated that he considers the $75,000 reward to be “generous” given the seriousness of the vulnerability.
According to DeFi Llama data, the Polygon ecosystem has a total locked value (TVL) of $4.11 billion at the time of this writing.
with this cryptocurrency platform gave a $2 million reward to the white-hat hacker who discovered a vulnerability that could cause $850 million in losses in October.