The white hat hacker received a 400 ETH bug discovery award from Arbitrum by detecting a vulnerability in the bridge connecting Ethereum and Arbitrum Nitro.
Security vulnerabilities have given many networks a headache to date. In particular, there have been attacks this year, in which we have witnessed losses exceeding millions of dollars. Therefore, network developers aim to minimize security vulnerabilities by launching bug bounty programs.
Arbitrum Pays 400 ETH to White Hat Hacker
The hacker, known as 0xriptide on Twitter, stated that thanks to the vulnerability he found, malicious people could create their own bridge addresses using the initialization function. Arbitrum also rewarded 0xriptide, who describes himself as a white hat hacker.
According to Riptide’s blog post, anyone wishing to transfer funds using a bridge from Ethereum to Arbitrum Nitro would be able to capture all ETH belonging to them. Hundreds of millions of ETH could have been stolen if the cyber attack was carried out.
0xriptide, which started research a few weeks before the Arbitrum Nitro upgrade, closed this gap and received 400 ETH rewards from Arbitrum worth approximately 536 thousand dollars. The white hat hacker also stated that this type of bug detection deserves the maximum reward.
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