CertiK's Bounty for HamsterWheel Threat, Sui Network Secured

CertiK's Bounty for HamsterWheel Threat, Sui Network Secured
A blockchain security firm, CertiK, has been rewarded with a $500,000 bounty from the Sui network for identifying a potential threat capable of disrupting Sui's layer-1 blockchain entirely.

In a statement provided to Cointelegraph, the CertiK team emphasized that the vulnerability known as "HamsterWheel" differed from typical attacks that target blockchain shutdowns by crashing nodes.

This particular attack ensnares nodes, allowing them to execute operations without processing new transactions, reminiscent of hamsters running on a wheel. The attack possesses the ability to paralyze networks, rendering them inoperable.

CertiK discovered the vulnerability and promptly reported it to Sui prior to the launch of its mainnet. In response to this security risk, the Sui network promptly implemented remedies to safeguard the blockchain against potential damage caused by an attack.

In recognition of CertiK's contributions, Sui granted a $500,000 bounty to the security firm. CertiK views this reward as a testament to the significance of bug bounty programs and proactive security endeavors.

Kang Li, Chief Security Officer at CertiK, noted that threats to blockchain networks are in a constant state of evolution. "The discovery of the HamsterWheel attack demonstrates the increasing sophistication of threats targeting blockchain networks," Li explained.

Further technical details regarding the attack will be released and made accessible in the near future. Additionally, comprehensive reports will be disclosed once all mitigation measures have been implemented and thoroughly tested.

Meanwhile, within the decentralized finance (DeFi) domain, a cryptocurrency trading bot has procured a $200 million loan in order to secure a $3 profit. On June 14, an arbitrage bot executed a series of intricate transactions, including borrowing 200 million DAI from MakerDAO, resulting in a total gain of $3.24. A member of the community commended the bot's achievement, asserting that "profit is profit," while another individual viewed this as an indicator of the challenging crypto bear market.

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