Hacker Loses 5 ETH After Failed Attack on NEAR Rainbow Bridge

Dejan Cvetnarevic
Dejan Cvetnarevic

Updated · Aug 23, 2022

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The accident took place over the weekend.

An Unsuccessful Attack

Aurora Labs CEO Alex Shevchenko said that the company mitigated the attack “automatically within 31 seconds”.

Users did not lose any funds in the attack, but the hacker behind it saw their 5 ETH vanish. The amount translates to approximately $8,000.

Shevchenko said the person behind it “was hoping that it would be complicated to react [to] the attack early Saturday morning.”

In his post, Shevchenko also sent a special message to the hacker:

“It’s great to see the activity from your end, but if you actually want to make something good, instead of stealing users money and having lots of hard time trying to launder it; you have an alternative — the bug bounty:”

This was not the first time the Rainbow Bridge has successfully defended against a hacker attack. On May 1st, the platform blocked an attempt to siphon funds.

The Rainbow Bridge supports token transfers between ETH, NEAR, and the Aurora Networks. Aurora is an Ethereum-compatible scaling solution that operates on the NEAR blockchain.

Shevchenko said that cybercriminals cannot submit incorrect information due to the need for “a consensus of NEAR validators,” which safeguards against any potential loss of funds on the bridge.

If hackers try to do so, they “would be challenged by independent watchdogs, who also observe NEAR blockchain.”

The attack that took place on the weekend was just one of many attempts to steal crypto this year. Chainalysis reported that hackers have stolen $1.9 billion in digital currency so far in 2022.

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Dejan Cvetnarevic

Dejan Cvetnarevic

Dejan is a techie at heart who always dreamed of turning his fascination with gaming into a career. He finds working for TechJury a perfect opportunity to express his views of all kinds of different software. Being an avid reader, particularly of fantasy and sci-fi, Dejan pursued a degree in English Language and Literature. When not at his computer, he’s watching sports or playing tabletop games.

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