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

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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.

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