The Sui Foundation has rewarded the Sui blockchain network with a generous $500,000 bounty as a token of appreciation. The bounty follows the uncovering of a serious vulnerability that threatened to cripple the Sui blockchain network by a smart contract audit firm CertiK. The vulnerability, called the ‘HamsterWheel Attack,’ is an infinite loop bug found in a malicious smart contract. It causes an endless loop in the blockchain, potentially crippling the network.

Infinite Loop Bug Named ‘HamsterWheel Attack’ Discovered in Sui Network

Security researchers have identified the vulnerability as an infinite loop bug that manifests as a malicious smart contract. The bug, if exploited, would lead to an endless loop in the blockchain, effectively rendering the network inoperable. The ‘HamsterWheel Attack’ vulnerability earned its name from the resemblance of the continuous spinning of network nodes to a hamster wheel.

CertiK emphasized that traditional attacks typically aim to shut down blockchains, unlike the novel HamsterWheel attack. As such, Sui need not have relied entirely on its developers alone to provide adequate security for its blockchain.

The discovery of this vulnerability was invaluable for the Sui network. The Sui Foundation took two measures to minimize the impact of similar issues in the future. CertiK has already deployed fixes for the bug and will release a detailed technical report soon.

Appearing on CoinDesk, Darius Goore, head of communications at Sui Foundation, had this to say; “We are extremely pleased that the program resulted in finding and fixing this bug well before Sui went live. Due to the bug bounty program, but also a robust third-party audits program, and thorough internal testing, the first six weeks of Sui Mainnet have been remarkably smooth from an operational and security perspective.” Kang Li, CertiK’s CSO, highlighted the HamsterWheel attack as evidence of increasing threats to blockchain networks’ security.

Summing this up, CertiK’s discovery of the HamsterWheel Attack is significantly beneficial for any cryptocurrency project. This discovery is a crucial reminder of the ever-evolving sophistication of threats to blockchain networks. Network operators must stay vigilant and implement robust measures, such as bug bounty programs, to ensure network security.

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The post HamsterWheel Attack Defeated: Sui Foundation awarded $500,000 to CertiK for Smart Contract Security appeared first on Boxmining.

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Filed under: Bitcoin - @ June 20, 2023 10:02 am