Arjun Bhuptani, founder of Connext and bridging expert, breaks down the Ronin bridge exploit that led to a hacker stealing $600 million+ and discusses different bridge designs that could limit future attacks. Show highlights:
- how a hacker was able to drain more than $600 million from Ronin bridge
- the difference between DeFi hacks and the Ronin bridge exploit, which was a social-engineering based attack
- why multisig bridges are susceptible to social engineering attacks
- why Arjun believes the Ronin hacker is a sophisticated entity
- whether Sky Mavis will be able to reimburse users
- the different attack vectors for cross-chain bridges
- what Arjun thinks about different bridge designs
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Episode Links
Arjun Bhuptani
Ronin Hack
- Latest update from Ronin
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- Community alert explaining the hack:
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- Etherscan of the hack taking place
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- Reactions
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- Mudit Gupta – the hacker is sophisticated
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- Arjun Bhuptani – why multisig bridges are vulnerable
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- Ed Zitron – social engineering
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- Information on Ronin
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- Why bridging is hard
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- Arjun’s latest article on Optimistic bridges
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