Optimism, an Ethereum scaling startup, says it has fixed a “critical bug”

The Ethereum scaling project Optimism addressed a “critical bug” earlier last month, according to its developers.

The problem was identified in the project’s version of Geth, the popular Ethereum implementation, according to a disclosure blog post. “By continuously executing the SELFDESTRUCT opcode on a contract that maintained an ETH balance, the bug made it possible to produce ETH on Optimism.”

Developer Jay Freeman, who discovered the flaw and wrote a separate blog post about it, was granted a bug bounty of $2,000,042. On February 2, the bug was reported to the Optimism team.

According to the team’s study, “the problem was not abused,” with the exception of an unintentional activation by a staffer at Ethereum data firm Etherscan.

“A fix for the issue was tested and deployed to Optimism’s Kovan and Mainnet networks (including all infrastructure providers) within hours of confirmation. We’d like to thank Infura, QuickNode, and Alchemy for their fast response times,” the team wrote. “We also alerted multiple vulnerable Optimism forks and bridge providers to the presence of the issue. These projects have all applied the required fix.”

The creation of optimistic rollups, which operate at the so-called second layer and aggregate transactions outside of the Ethereum blockchain, where transactions are finally finalised, with the purpose of lowering the cost of transacting on the network, is the focus of optimism. Layer-two protocols, on the other hand, are vulnerable to potentially dangerous security flaws, as today’s report illustrates.

A number of optimistic rollups are currently in effect, with a total value of more than $5 billion locked in (referring to the funds contained therein). According to data compiled by The Block Research, Optimism’s own rollup contained around $530 million in locked ETH and ERC-20 tokens as of February 10.



Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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