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- The detected attack has the potential to incapacitate networks entirely.
- The Sui network has implemented protective measures to safeguard the blockchain from damage.
CertiK, a company specializing in blockchain security, was granted a $500,000 reward by the Sui network for identifying a vulnerability that could have impacted the entire layer-1 blockchain.
The CertiK team stated that the “HamsterWheel” vulnerability was distinct from other attacks that have disrupted blockchains by crashing nodes. This particular attack traps nodes, preventing them from processing new transactions while they continue to operate in a loop, akin to hamsters on a wheel. The attack could potentially render networks entirely nonfunctional.
Proactive Security Measures
Prior to the launch of Sui’s mainnet, the security firm discovered and reported the vulnerability to the organization. In response to the security threat, the Sui network has enacted precautionary measures to shield the blockchain from potential harm.
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Sui opted to reward the security firm CertiK with a $500,000 bounty for their diligent efforts. CertiK asserts that this emphasizes the importance of proactive security strategies and bug bounty initiatives. CertiK’s chief security officer, Kang Li, noted that risks associated with blockchain networks are continuously evolving.
The announcement indicates that additional technical details will be shared and made available in the near future. Furthermore, once all countermeasures have been implemented and thoroughly assessed, comprehensive reports will be released to the public.
Meanwhile, a cyberattack was executed against the European Investment Bank (EIB), the largest multilateral lender globally.
The Western banking system faces an urgent threat, with Russian hackers being widely suspected as the perpetrators. Additionally, pro-Russian Killnet hackers claimed on Telegram that they had infiltrated the EIB’s network.
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