Bridge Hacks Have Caused ~$1 Billion in Losses. Heres Why Bridge Security Is Tricky - Ep.336

Published: April 1, 2022, 9:45 a.m.

b'Arjun Bhuptani, founder of Connext and bridging expert, breaks down the Ronin bridge exploit that led to a hacker stealing $600 million+ and discusses different bridge designs that could limit future attacks. Show highlights:\\n how a hacker was able to drain more than $600 million from Ronin bridge\\n the difference between DeFi hacks and the Ronin bridge exploit, which was a social-engineering based attack\\n why multisig bridges are susceptible to social engineering attacks\\n why Arjun believes the Ronin hacker is a sophisticated entity\\n whether Sky Mavis will be able to reimburse users\\n the different attack vectors for cross-chain bridges\\n what Arjun thinks about different bridge designs\\n Thank you to our sponsors!\\n Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\\xa0\\xa0\\xa0\\xa0\\n Coinchange: https://coinchange.io\\xa0\\xa0\\xa0\\n OnJuno: https://onjuno.com/\\xa0\\n \\xa0\\n Episode Links\\n Arjun Bhuptani\\n Twitter: https://twitter.com/arjunbhuptani\\xa0\\n \\xa0\\n Ronin Hack\\n Latest update from Ronin\\n \\n https://twitter.com/Ronin_Network/status/1509284549020188672\\xa0\\n \\n https://twitter.com/Psycheout86/status/1509134627319033863\\xa0\\n \\n Community alert explaining the hack:\\n https://roninblockchain.substack.com/p/community-alert-ronin-validators?s=w\\n \\n Etherscan of the hack taking place\\n https://etherscan.io/address/0x098b716b8aaf21512996dc57eb0615e2383e2f96\\n \\n Reactions\\n Mudit Gupta \\u2013 the hacker is sophisticated\\n https://twitter.com/Mudit__Gupta/status/1508868214075310091\\n \\n Arjun Bhuptani \\u2013 why multisig bridges are vulnerable\\n https://twitter.com/arjunbhuptani/status/1508861771595059205\\n \\n https://twitter.com/arjunbhuptani/status/1508861771595059205\\xa0\\n \\n Ed Zitron \\u2013 social engineering\\n https://ez.substack.com/p/the-infinite-exploitation-of-cryptocurrency\\n \\n \\n Information on Ronin\\n \\n https://twitter.com/joel_john95/status/1486809221962289154\\xa0\\n \\n Why bridging is hard\\n \\n https://blog.connext.network/the-interoperability-trilemma-657c2cf69f17\\xa0\\n \\n Arjun\\u2019s latest article on Optimistic bridges\\n \\n https://twitter.com/arjunbhuptani/status/1509582024104939523?t=4HCssiWfO5v65ehXRnWL3A&s=19\\xa0\\n \\n \\nLearn more about your ad choices. Visit megaphone.fm/adchoices'