CertiK Receives $500k Reward by SUI Community for Discovering Vulnerability

• The recognized assault can render networks utterly inoperable.
• Sui community has deployed precautionary measures to guard the blockchain from hurt.

CertiK, a blockchain safety firm, was awarded a $500,000 prize by the Sui community for reporting an issue which will have affected the entire layer-1 blockchain.

The CertiK workforce, in a press release, stated that the “HamsterWheel” vulnerability was distinctive compared to different assaults which have shut down blockchains by crashing nodes. This assault ensnares nodes, making it to allow them to’t course of any new transactions however could preserve working in place like hamsters on a wheel. The assault would possibly even render networks utterly inoperable.

Proactive Safety Measures

Earlier than Sui’s mainnet launch, the safety agency discovered and reported the flaw to the corporate. In gentle of the safety threat, the Sui community has deployed precautionary measures to guard the blockchain from hurt.

Sui determined to reward the safety firm CertiK with a $500,000 bounty for all of their exhausting work. CertiK claims this underlines the necessity for proactive safety measures and bug reward packages. CertiK’s chief safety officer Kang Li has stated that blockchain community dangers are at all times growing and altering.

The discharge states that additional technical data could be disclosed and made accessible within the close to future. As well as, in spite of everything, countermeasures have been applied and rigorously evaluated, full stories will probably be made public.

However, a cyberattack was launched on the European Funding Financial institution (EIB), the most important multilateral lender on this planet.

The Western banking system is in imminent hazard, and Russian hackers are extensively suspected because the culprits. As well as, pro-Russian Killnet hackers said on telegram that that they had breached EIB’s community.

European Funding Financial institution’s Web site Down Following Cyberattack