Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Synapse Bridge Averts $8mln Hack

Synapse Bridge Averts $8mln Hack

Kelly Cromley by Kelly Cromley
Nov 9, 2021
in Market News, News
Reading Time: 2 mins read
0

A multi-million dollar exploit was nearly averted by the Synapse Bridge, which is a cross-chain protocol that continues to have difficulties. In a Discord announcement on November 7, Synapse Bridge said that they have blocked a hacker from emptying nearly $8 million USD from the Avalanche Neutral Dollar (nUSD) Metapool.

Using the bridge, the hacker tried to take advantage of a weakness in order to move assets from Polygon (MATIC) to Avalanche (AVAX). Using an automated market maker, Synapse is a cross-chain bridge intended to simplify swaps and transfers across a variety of layer-one and layer-two protocols on the Ethereum blockchain (AMM).

It was announced by Synapse Bridge that they had uncovered a contract fault in the way that the AMM Metapool contracts handled virtual price computations in comparison to a base pool’s virtual price “during the course of the previous 16 hours.”

In response to AMM’s unexpected conduct, Synapse’s validators halted support for all chains and went down as soon as they were made aware of it by its validators. Validators were able to collectively opt to reverse the transaction before it could be verified by shutting down the network as a result of this action.

Ultimately, the money will not be minted to the attackers’ address on the target chain if they do not do so in this manner. “Instead, the validators will coin the nUSD and distribute it to the impacted Avalanche LPs.”

“All Avalanche nUSD LPs will be refunded in full, with no cash lost,” Synapse Bridge declared in a statement. After the entire audit of the exploit is finished, the cash from the rejected transaction will be utilized to repay the liquidity providers who were impacted by the attack.

It has now been implemented new nUSD pools, which are a regular stableswap pool of four assets rather than a metapool, on the Synapse Bridge. As Aurelius put it, “this is the most secure approach since the main stable swap contract (as opposed to the Metapool contracts) has been rigorously battle-tested by many different platforms.”

Synapse Bridge reports that the network is now operational and that regular operations may be resumed. It has also been completed the processing of user backlogs and outstanding transactions. Synapse Bridge has told Saddle, the creator of Metapool contracts, that the contract has been created. The pool at Saddle has now been suspended as well. Only the metapools from Saddle were impacted by the vulnerability, and only those metapools.

Previous Post

Carbon Neutral Crypto Spot ETFs to be Launched in Canada

Next Post

Nansen to Integrate Solana for Enabling Market Intelligence

Related Posts

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

XRP Price if Ripple Captures 14% of SWIFT Market Share in 5 Years

by Mostafijur Rahman
Jun 13, 2025
0

Ripple’s vision of replacing or supplementing parts of the legacy SWIFT system is not new—but what if it actually happened...

sft-luffa-partner-for-secure-web3-messaging

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
0

SFT Protocol, a notable player in the decentralized finance landscape known for enabling liquidity in staked assets, has announced a...

quackai-soonchain-decentralized-gaming-partnership

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
0

Quack AI, an established platform specializing in artificial intelligence-driven governance solutions, has announced a strategic partnership with SoonChain, a progressive...

Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
0

Polygon, a leading Layer 2 scaling solution for Ethereum, has announced plans to extend the functionality of its native POL...

Cardano Launches Smart Contracts Testnet “KEVM”

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
0

Cardano, one of the foremost public decentralized blockchain protocols, has unveiled a new anti-grinding mechanism aimed at improving network security...

nillion unveils alpha mainnet to advance privacy-centric computing

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025
0

In a significant move toward expanding decentralized infrastructure beyond traditional crypto use cases, Nillion has officially introduced its Enterprise Cluster....

Next Post
Nansen to Integrate Solana for Enabling Market Intelligence

Nansen to Integrate Solana for Enabling Market Intelligence

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

sft-luffa-partner-for-secure-web3-messaging
Market News

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
quackai-soonchain-decentralized-gaming-partnership
Market News

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises
Market News

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
Cardano Launches Smart Contracts Testnet “KEVM”
Cardano News

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
nillion unveils alpha mainnet to advance privacy-centric computing
Market News

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree