Move quickly on rescue operations, as you never know who is watching the chain,” the Optimism Foundation wrote in its blog. “Ethereum is a 'dark forest'-whatever can be frontrun, will be frontrun.
#Optimism crypto full#
Ultimately, the incident is a reminder that crypto is chock full of bad actors waiting for their moment to strike, and nobody is immune. The project botched its token airdrop, sending the token’s value down over 70 percent of its original value at the time. Optimism has been going through some bad times lately. There have been several cases where benevolent vigilantes or hackers have swooped in and taken cryptocurrency that was left exposed by a flaw and then returned it to the project. White Hat and even offered them a job as "Chief Security Advisor."Ĭases like the one of the Poly Network, or the hack on Multichain, where the hacker returned most of the stolen money except for what they called “tips” for saving people’s money are very different from cases where actual white hats save funds. The most famous example of this happened in August of 2021, when a hacker stole around $600 million from the crypto platform Poly Network, and eventually returned all the funds after repeated pleas from the company, which called the hacker Mr. But it wouldn’t be the first time a hacker seemingly changes their mind after stealing crypto. Whether the hacker decides to give up the remaining $15 million they stole, or return them in exchange for a vague offer of “consulting opportunities” remains to be seen. A spokesperson for Optimism referred to the blog posts. Gaevoy did not immediately respond to a request for comment via Twitter DM. Consider your options and choose to be good and optimistic instead of living in fear.” We already started investigating the potential leads, in certain cases stopping short of informing respective law enforcement agencies. Us being careless still leaves you a criminal. This is you taking a bag with cash that was left behind by a (careless) person. This is not a 'code is law' theoretical argument. Remember that robbers need to get lucky every time. In case the above doesn’t happen, we are 100% committed to returning all the funds, tracking the person(s) responsible for the exploit, fully doxxing them and delivering them to the corresponding juridical system. “You have one week to consider being a whitehat. We are also content with the scenario where the remaining 19 million tokens are returned,” the message to the hacker read. Moreover, the way the attack has been performed has been rather impressive and we can even consider consulting opportunities or other forms of cooperation in future. “We are open to see this as a white hat exploit. You can contact Lorenzo Franceschi-Bicchierai securely on Signal at +1 9, Wickr/Telegram/Wire or email CEO Evgeny Gaevoy wrote his own postmortem, in which he also sent a message to the hacker that’s both amicable and threatening, and gave the hacker a one week grace period to return the tokens: L1 is confusing enough for most people to navigate, and L2 brings a new set of paradigms over key management and safety, even for experienced crypto users and teams,” the blog post read.ĭo you have information about hacks or hackers in the world of crypto? Or do you research vulnerabilities in web3 and DeFi projects? We’d love to hear from you. “This is not the first time an error like this has occurred in crypto. This is where the hacker stepped in, using a complex chain of operations to deploy the L2 wallet themselves and take control of the 20 million OP tokens. The reason was that they had provided an address for a wallet on Ethereum that had not yet been set up on Optimism, which is a layer-2 (L2) chain running on top of Ethereum, designed to make it cheaper to use. Wintermute provided an address to receive the funds, and confirmed that they received two test transactions, but only after the full amount had been sent did they realize that they could not actually access the tokens, according to Optimism. Effectively, they wrote, it was human error. In its blog post, the Optimism team essentially said that while this is bad, hacks like this can happen. So far, the hacker has sold one million tokens, currently worth $800,000, and laundered them through the mixing service Tornado Cash. That’s when the hacker took advantage of a mishap and took all the funds for themselves, according to a postmortem from the Optimism Foundation. On Wednesday, the Optimism Foundation was supposed to send 20 million OP tokens-worth around $16 million as of this writing-to Wintermute, a firm that provides liquidity to crypto projects for trades.
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