Treehouse, Swidge & Omni Integrate LI.FI | 400 ETH Bounty for Arbitrum Whitehat Hacker | OpenSea Supports Arbitrum | Horizon Bridge Update | Aptos on Wormhole & More!
Last Week In The Multi-Chain Ecosystem (19th to 25th Sept 2022)
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Bridge Updates
1) Treehouse Integrates LI.FI’s Widget 🦎
Treehouse, a DeFi portfolio analytics platform, has integrated LI.FI’s widget. Users can now swap and bridge crypto assets across chains directly from the Treehouse dApp interface.
After closely following Recovery One’s progress and listening to the Harmony community and validators, the team has decided to ‘preserve the foundation of the Harmony blockchain with 0% minting.’ The team has proposed to deploy their treasury funds to help the chain recover post the $100M bridge hack, instead of the originally proposed plan of minting ONE tokens to reimburse the affected users.
3) Aptos is Coming Soon to Wormhole 🤝🏻
Wormhole has deployed its generic messaging layer to the Aptos devnet.
Note: Aptos Mainnet is not live yet, but will be added to the Wormhole network as soon as it launches.
4) Omni Integrates LI.FI 👏🏻
Omni, a mobile-first web3 wallet, is using LI.FI to help power bridging and swapping inside its app. With the integration, Omni users can move any asset across the 15+ chains supported by LI.FI in a fast, secure, and efficient way.
5) Axelar & LongHashVC Launch Cross-Chain Accelerator Program 🚀
Axelar has partnered with LongHash Ventures to launch Round 2 of its cross-chain grant program. Round 1 saw participation from more than 60 projects that raised $150M+ in funding with help from LongHashVC. Selected projects in Round 2 will receive up to $100,000 of up-front investment from LongHashX, as well as support with further fundraising from other investors.
6) Swidge is Building on LI.FI 💪🏻
Swidge is a multi-chain any-to-any swap protocol. It’s building on LI.FI to enable users to exchange assets and swap across multiple chains with only one confirmation.
Multi-Chain Ecosystem Updates
1) OpenSea Now Supports Arbitrum 💙
Arbitrum is now live on OpenSea. This is the first step in OpenSea’s multi-chain expansion. OpenSea currently supports Ethereum, Polygon, Klaytn, Solana, and now Arbitrum. The team plans to add support for more of the biggest chains in the coming weeks.
2) BUSD Deployed on Avalanche & Polygon 🤝🏻
Binance has completed the integration of Binance USD (BUSD) on the Avalanche and Polygon networks, enabling BUSD depsoits/withdrawals on both networks. Users can now transfer BUSD across the Ethereum, BNB Chain, Avalanche, and Polygon networks.
3) Wintermute Hacked for $160M 🚫
Wintermute, a crypto market maker, has been hacked for $160M in its DeFi operations (Cefi and OTC operations are not affected), affecting several tokens of major protocols. Evgeny Gaevoy, Wintermute’s founder and CEO, said the company remains solvent, with "twice over" $160 million remaining in equity.
4) Arbitrum Whitehat Hacker Prevents Major ETH Loss 👏🏻
0xriptide, a whitehat hacker, discovered a critical vulnerability on Arbitrum Nitro which could’ve allowed an attack to steal all incoming ETH deposits in the L1 ->L2 bridge. The whitehat was rewarded 400 ETH by the Arbitrum team.
5) USDT launches on Polkadot 💪🏻
Tether Tokens (USD₮) Live on Polkadot are now live on Polkadot. USDT is now live on a total of eleven networks.
What’s Popping on Twitter?
Whitehat hackers play a crucial role in our ecosystem. They’ve saved the day many times by preventing several hacks, saving thousands of users from losing billions of dollars.
Last week, we saw another incident where a whitehat prevented a ‘multi-million dollar’ hack — 0xriptide, an anonymous whitehat hacker, discovered a critical vulnerability on Arbitrum Nitro which could’ve allowed an attacker to steal all incoming ETH deposits in the L1 ->L2 bridge.
Upon investigation, he found a critical vulnerability where the bridging contract was able to accept deposits, even though the contract was initialized previously. Upon digging deeper, 0xriptide found that a hacker could set their own address as the bridge, mimicking the actual contract, and steal all the incoming $ETH deposits from Ethereum to Arbitrum Nitro. You can read the breakdown here.
The whitehat was rewarded a bounty of 400 ETH (approx. $560,000) for discovering the vulnerability. However, many, including the whitehat, argued that the reward was not in line with the critical nature of the bug and the vulnerability it entailed. They took to Twitter to voice their criticism of Arbitrum’s decision to reward the whitehat with only 400 ETH and not the maximum bounty of $2M.
Incidents like these raise the question of whether the guidelines around what qualifies as a critical vulnerability for bug bounties should be made more detailed and not left to the teams to decide.
Whitehats are pivotal for ensuring the security of the ecosystem. Steps must be taken to ensure that participating in bounties is always a win-win situation and no party comes out of such an event feeling hard done by.
Do you think the hacker should’ve received the max. reward of $2M? Comment below and let us know your opinion.
Interesting Reads
1) Navigating Arbitrary Messaging Bridges: A Comparison Framework
2) Deep Dive Analysis — Multichain
3) How LI.FI Can Help Wallet Developers Execute Cross-Chain Swaps
4) Deep Dive — NFTHashi
5) How to Integrate and Build on top of LI.FI's Tech Stack and SDK
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