Gnosis Chain completed hard fork to prevent repeated attacks
The developers said that the upgrade will strengthen the security of tokens connected to the sidechain and protect applications on the Gnosis network
21.04.2022 - 11:50
205
1 min
0
What’s new? Gnosis Chain, an Ethereum sidechain, has conducted a hard fork to upgrade a smart contract vulnerable to re-attack. The upgrade ended on April 20 at block number 21 735 000. The hard fork activated a GIP-31 proposal from the GnosisDAO sidechain ecosystem governance community. . This is reported on the website.
Information on the Gnosis Chain website
What preceded it? The proposal to upgrade GIP-31 came after two DeFi protocols, Hundred Finance and Agave, were subjected to hacker attacks. In total, the attackers managed to withdraw about $11 million in cryptocurrencies. These hacks occurred because of a vulnerability in the Gnosis network’s smart contract.
What had happened before? On March 15, Deus Finance DAO, a decentralized protocol, was hacked similarly. The attacker withdrew about $3 million from the protocol. The stolen funds were transferred to Ethereum and sent to the Tornado Cash transaction mixer.
Useful material?
Market
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024