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As a powerful decentralized second-tier expansion channel running on Ethereum, Polygon has recently saved up to 24B in value MATIC token Attacks from malicious vulnerabilities. A failure during the upgrade poses a serious risk to the network and network users.Interestingly, the Polygon The team successfully fixed the vulnerability quickly without attracting the attention of the users involved in the upgrade.
According to Polygon’s official blog post, the channel’s vulnerability Proof of equity (PoS) The Genesis contract was first hinted by two white hat hackers through Immunefi on December 3 and December 4. For those who don’t know, immunity Is a popular blockchain security and bug bounty hosting portal. This serious vulnerability may expose the 9.27B MATIC equivalent to US$23.6B to serious risks and cause security issues among customers.
The vulnerability was fixed in block #22156660 through the “Emergency Bor Upgrade” of the mainnet at 7:27 AM on December 5, 2021. The company confirmed that the intruder successfully stolen 801,601 MATIC tokens worth US$2.04 million before the team dealt with the problem. The Polygon team interacted closely with the team and Immunefi team members to resolve the fault. Verifiers and participating nodes are quickly notified. They united behind the core developers and upgraded 80% of the channels within 24 hours without any pause.
The Polygon network follows the “silent patch” policy initiated by the Go Ethereum team in November 2020, and therefore quietly solves the problem without causing any confusion to the ecosystem. According to the rules, developers report bug fixes within 4-8 weeks after going online to eliminate the risk of being exploited during the patch.
Speaking of the situation, Polygon’s co-founder Jaynti Kanani emphasized the portal’s excellent ability to quickly resolve security issues. Pioneer solved these problems to test the network’s resilience and ability to work under pressure. Kanani added that considering the huge stakes, the team made the decision to be the best resort available to the team at the time.
Immunefi revealed that the Whitehat hacker “Leon Spacewalker” was the first to report the issue on December 3. He will be rewarded with a stable currency worth $2.2 million. The second person to report this issue is an anonymous user named “Whitehat2” who will receive 500,000 MATIC tokens worth $1.27 million from the Polygon team.
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