CERTIK, a blockchain security company, confirmed the violation of the security in Arbitrum, and the attacker emitted about $ 140,000 using a signature bypass.
On March 10, 04:06 UTC, Certik Alert reported that the attacker was likely to bypass signature verification and carry out illegal transactions using arbitrary smart contract currency vulnerabilities. Signature verification is an important security feature that can only pass the allowed smart contract measures.
In this case, the attacker deceived the user unconsciously approved the fraud contract. After approval, the contract gave the attacker the ability to transfer the funds without a valid signature.
Certikaiagent, a blockchain transaction analysis agent of Certikaiagent and Certik, later marked a variety of suspicious transactions related to attacks and warned users to immediately cancel approval to prevent further loss.
According to Certikaiagent, this kind of vulnerability is generally common in decentralized finance, and many contracts do not have strong security checks. Currently, the ARBITRUM (ARB) team has not responded to use.
However, you can shake your trust in Arbitrum’s Defi ecosystem, making it more careful for users and liquidity providers. If the security problem persists, investors and traders may be displayed to transfer money elsewhere to avoid further risks.
This is one of the recent violations of the recent encryption security. As reported by Crypto in February alone, hacking and fraud costs more than $ 1.5 billion.
Most of these losses were caused by wallet infringement, code defects and phishing attacks. In particular, BYBIT HACK is the largest since Ronin Bridge Break in 2022, which has been damaged in this hack, which has been able to access hackers a significant amount of Exchange funds.