July 2, 2022

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Hacker is helping Polygon save $24 billion, will get $2.2 million as praise

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A hacker has helped Ethereum primarily based layer 2 blockchain scaling answers supplier Polygon avert a crisis doubtlessly value $24.2 billion on December 3, the corporate stated in a remark. He was once then rewarded with about $2.2 million in stablecoins through Polygon.   

The hacker, who is going through the identify of Leon Spacewalker on social media platforms Twitter and GitHub, published a crucial layer in a sensible contract, which held about $24.2 Billion Matic tokens, as of December 3. Their present value is round $9 billion.   

The issue was once rooted in a crucial vulnerability in Polygon’s proof-of-state genesis contract.    

The vulnerability was once first reported at the computer virus bounty platform known as Immunefi, a 3-D computer virus bounty program, after Spacewalker found out the computer virus and knowledgeable Polygon, the corporate showed the vulnerability, and went directly to up to date its Mumbai testnet.  

The corporate showed that the safety hollow was once looked after through December 5.   

Alternatively, Polygon have been not able to steer clear of dropping about 801,601 Matic cash, which can be recently estimated to be value greater than $2 billion.   

“That this incident had a contented finishing is a testomony to their experience. Tight coordination with the Polygon validators helped avert what may just’ve been a significant crisis,” stated Immunefi’s Dunchan, the Leader Era Officer of the corporate.   

On December 5, Polygon’s co-founder Mihalo Bjelic stated that his corporate was once “making an investment a lot more in safety and they’re making an effort to toughen safety practices throughout all Polygon tasks. The whole main points, on the other hand, weren’t launched to the general public submit on December 29. Polygon’s same old computer virus bounty program is hosted at $2 million, on the other hand, an expectation was once made for the White Hat hacker.   

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Going into the technicalities, the improve to mend the problem was once completed on December 5, on the other hand, CoinSwitch claimed that the trade didn’t have an effect on the efficiency of the community “In a significant approach”. 

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