Ethereum inventor Vitalik Buterin was the unintended recipient of the 1 million OP tokens from this Network Optimism scalability solution. The team behind this project directed Concerns about potential exploits related to the release of their governance token.
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As Optimism explained, they have entered into a deal with liquidity provider Wintermute to “facilitate a smoother experience for users” looking to purchase the OP and participate in the project governance model. As part of the agreement, Optimism sent 20 million OP tokens to a multi-signature address.
However, the liquidity provider was unable to access the funds as it discovered that the address was modeled as a multi-signature Ethereum layer-1 without optimism, which serves as a second solution, smart contract deployment. About this, the liquidity provider said:
When we reported the wallet address to the Optimism team, we made a huge mistake.
Optimism has begun participating in a “refund process” to access the funds, concluding with Wintermute that the funds “could have been recovered and that no one other than Wintermute could recover these funds,” the liquidity provider said in a statement. statement.
The liquidity provider clarified that a date for the redemption process has been set for June 7.The tenth2022, but a hacker defeated them. The team behind the Ethereum Layer 2 solution explained:
Unfortunately, the attacker was able to deploy multisig on L2 with different config parameters before these efforts were completed, assuming 20m OP ownership.
Moreover, the optimist claims that the attacker began to sell the stolen money. Up to 1 million OP tokens were “dumped” on the market from the hacker’s address: 0x4f3a120E72C76c22ae802D129F599BFDbc31cb81.
At the time of writing, this title still held 18 million OP coins or $14 million with an additional $3 in USDC. But new developments have made the whole incident even stranger.
Why did he send part of the money to Vitalik Buterin?
Developer Yoav Weiss, Security Fellow at the Ethereum Foundation, Submitted Other details about recent events. It is believed that the attacker may be a hacker of the Whitehat network.
He based this assumption on the fact that the attacker waited four days before taking ownership of the OP’s money. During that time, there was a risk that Wintermute might have published the solution to get the money back.
In addition, the attacker did not move the money as the optimism believes. In a move, Ethereum inventor Vitalik Buterin received 1 million tokens and Weiss himself received another 1 million OP.
And the plot intensifies. As I was writing this explanation, the attacker delegated 1M OP’s voting power to *me*: https://t.co/75VPmS91J5
Thanks for your authorization 🙂
Hint: No, I’m not the attacker and I don’t know who he is. But now I think it’s a white hat.
– yoav.eth (@yoavw) June 9, 2022
Projects often send out Vitalik Buterin tokens to celebrate the launch of their platforms, or to “burn them,” as the inventors of Ethereum rarely use them. The fact that Weiss is a fellow security officer appears to be part of a message from the attacker.
The team behind the optimism claims that the hacker did not use the funds for any activity related to its governance model. If this situation changes, they claim that additional measures will be taken along with the OP community.
Other measures are available, but the optimism team refuses to impose them and threatens the project’s vision of an unauthorized network. And they concluded:
(…) Incidents like this are the growing pains of a sophisticated industry. This is a reminder to everyone dealing with contracts across different chains that the security assumptions of one chain do not necessarily carry over to another.
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At the time of writing, OP is trading at $0.8 with a 16% loss in the last 24 hours.