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☠️Ethereum PoW Fork Suffers its First Smart Contract Hack☠️
September 19, 2022
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The Ethereum PoW fork is off to a rocky start — one of the network’s smart contracts has endured a hack, triggering collapsing prices

ETHPoW (ETHW), the fledgling proof-of-work (PoW) Ethereum fork, has seen its first significant smart contract hack since the network split late last week.

Blockchain security infrastructure firm BlockSec first alerted users of a so-called ‘replay attack’ on Sunday, which leveraged legitimate transactions on the proof-of-stake (PoS) Ethereum blockchain alongside DeFi application Gnosis and multi-token extension OmniBridge.

Replay attacks and exploits can occur when cryptocurrencies — in this case wrapped ether (WETH) and ETHW — are treated as the same asset, even though they technically exist on completely separate blockchains.

Ethereum transitioned its PoW-powered consensus model to PoS with a hard fork last Thursday. This formally ditched crypto miners in favor of collateralized validators, who, rather than run power-hungry GPU miners, stake crypto in the network for the right to process transactions.

In a bid to continue mining, some Ethereum participants opted to support a PoW fork in ETHW, a network which when deployed mirrored every single Ethereum-bound asset, including ether, NFTs and smart contracts underpinning protocols such as Gnosis and OmniBridge.

BlockSec told Blockworks the attack was not a replay exploit “on the chain level” but rather one resulting from a contract vulnerability. This means neither Gnosis nor the Ethereum and ETHW networks were hacked. Instead, the OmniBridge smart contract on the proof-of-work fork mistakenly paid out funds.

First, the exploiter transferred 200 wrapped ether (WETH), currently worth $260,000, through the Ethereum blockchain’s OmniBridge protocol to the Gnosis network

The hack consisted of replaying the same transaction message on the Ethereum PoW fork to receive 200 ETHW from that network’s copy of the OmniBridge smart contract.

ETHW markets tanked about 40% after word of the exploit first broke — from $8 to $5. It’s unclear whether the attacker cashed out the 200 ETHW stolen in the attack but it’s now worth about $1,000.

The attack was possible due to the OmniBridge on the PoW chain still accepting transactions that reference the proof-of-stake Ethereum blockchain’s “chainID,” a variable that serves as a unique identifier for different blockchain networks. The PoW fork uses a different chainID to help separate actions between the two networks.

“As a result, the balance of the chain contract deployed on the PoW chain would be drained,” BlockSec wrote. Security researchers warned such attacks could occur on ETHW in the leadup to the fork.

Gnosis co-founder Martin Koppelmann later tweeted to say that both Gnosis and Ethereum were in “no way affected.” 

“We do not support the (ETHW) chain and do not see us responsible for what is happening on that chain,” Koppelmann said. He said the attacker had spun up false bridge activity to drain funds on ETHW.

A suggestion to deactivate the bridge’s links to ETHW, effectively closing this particular security loophole, will be put forth to the governance team overseeing OmniBridge, he said. BlockSec warned in a blog that similar incidents could occur elsewhere across the ETHW network.

ETHW Core, the stewards of ETHW,  confirmed Sunday the attack involved a bridge contract vulnerability and had notified OmniBridge “in every way” to inform them of the risks but had yet to receive a response.

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Blockchain NOT Needed, Barter 2.0

Fully distributed peer to peer network, verified.

Most complain about CBDC's and Digital ID's, while others build solutions around them

👉 No Blockchain, DLT or Currency needed!

Join @VeTest_2017 and I for another great discussion on the developments of Global Barter 2.0

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Boooooooom 🚀 🤖 Next up: Autonomous AI agents trading real-world assets for you. $Veritaseum

Centralized exchanges are a single point of failure. The alternative is already working.
​WATCH: A live demonstration of a truly decentralized, peer-to-peer crypto trade.

We've bonded physical silver to NFTs on @base, creating a new asset class for a censorship-resistant, digital bartering economy.

👉 ​Next up: Autonomous AI agents trading real-world assets for you.

OP: https://x.com/ReggieMiddleton/status/1970275265340117235

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SEC-CFTC Joint Roundtable 📚

🇺🇸 NEW: Paul Atkins declares today “a turning point in the history of American financial markets” at the SEC-CFTC joint roundtable on regulatory harmonization.

“For too long, the SEC and the CFTC have operated in parallel lanes, too often in conflict with each other…we are charting a new course.”

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👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

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💠 'Based Agent' enables creation of custom AI agents
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💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
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👉 Coinbase just launched an AI agent for Crypto Trading

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🚨 SWIFT PARTNERS WITH CONSENSYS ON BLOCKCHAIN LEDGER 🚨

SWIFT has chosen to work with Consensys on a prototype for its groundbreaking blockchain-based ledger, aiming to bring its hallmark security, resiliency, and scalability to the world of tokenized digital finance. This marks a pivotal step in extending SWIFT’s trusted platform into a new era of 24/7, instant cross-border payments and digital asset settlement.

🔑 Key Points:

🔹 Project Launch: SWIFT and Consensys are collaborating on a conceptual prototype for a shared blockchain ledger designed to facilitate secure, real-time transactions between financial institutions. The initiative will start with a focus on regulated tokenized value and real-time global payments, leveraging SWIFT's robust reputation in global finance.

🔹 Bank Consortium: More than 30 leading banks—including JPMorgan, Bank of America, HSBC, and Deutsche Bank—are actively involved in the design and pilot phase, ensuring the new system meets compliance and ...

post photo preview

🚨 SWIFT PARTNERS WITH CONSENSYS ON BLOCKCHAIN LEDGER 🚨

SWIFT has chosen to work with Consensys on a prototype for its groundbreaking blockchain-based ledger, aiming to bring its hallmark security, resiliency, and scalability to the world of tokenized digital finance. This marks a pivotal step in extending SWIFT’s trusted platform into a new era of 24/7, instant cross-border payments and digital asset settlement.

🔑 Key Points:

🔹 Project Launch: SWIFT and Consensys are collaborating on a conceptual prototype for a shared blockchain ledger designed to facilitate secure, real-time transactions between financial institutions. The initiative will start with a focus on regulated tokenized value and real-time global payments, leveraging SWIFT's robust reputation in global finance.

🔹 Bank Consortium: More than 30 leading banks—including JPMorgan, Bank of America, HSBC, and Deutsche Bank—are actively involved in the design and pilot phase, ensuring the new system meets compliance and ...

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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