NEAR Rainbow Bridge Blocks Weekend Attack Causing the Hacker Lose 5 ETH

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Yesterday, Aurora Labs CEO Alex Shevchenko revealed that the NEAR Rainbow Bridge had suffered another hack attempt over the weekend.

Luckily, the Aurora automated watchdogs helped to mitigate the attack just within 31 seconds. As a result, no users have suffered but the hacker has lost his 5 ETH deposit which cost around $8,000 at the time.

The bridge is based on trustless assumptions which makes it vulnerable to attacks like these. However, so far the independent watchdogs have been able to protect the funds. Just a couple of months ago, on May 1, the platform successfully deflected another attack. The Aurora CEO recommended hackers to take advantage of bug bounty instead of trying to steal assets.

The Rainbow Bridge allows users to transfer ETH, NEAR, and ERC-20 tokens between networks, but keep in mind that you can also swap these assets effortlessly on ChangeNOW.

NEAR Rainbow Bridge Blocks Weekend Attack Causing the Hacker Lose 5 ETH

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Dolores Vaughan

Crypto expert

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