The unfavourable effect brought by MEVs continues to gain recognition globally, with many believing MEVs capable of providing serious risk to Ethereum’s future. Amidst this crisis, research organization Flashbots has emerged with a solution.
Rari capital got hacked for around $79M through a classic re-entrancy attack. Rari is a fork of compound finance that had this bug fixed earlier. It is not the first time Rari has been a victim of a hack. The attacker created 2 contracts. There were 7 pools that were affected due to this exploit (8,18,27,127,144,146,156) We will be focusing on this specific transaction to understand the hack. https://etherscan.io/tx/0xadbe5cf9269a001d50990d0c29075b402bcc3a0b0f3258821881621b787b35c6 https://etherscan.io/address/0x49da42a1eca4ac6ca0c6943d9e5dc64e4641e0e3#codeIntroduction
Pre-requisite
The Exploit
Hack Yourself!
The unfavourable effect brought by MEVs continues to gain recognition globally, with many believing MEVs capable of providing serious risk to Ethereum’s future. Amidst this crisis, research organization Flashbots has emerged with a solution.
In a world where personal data has become more or less a commodity, the potential advantages provided by zero-knowledge proofs are monumental. By combining them with blockchain technology, a powerful mix of immutability and security can be achieved.
It is crucial to come up with innovative solutions against cyberattacks, especially when your workforce is remotely working. Since we know that remote work comes with a bunch of security risks, it is essential to cater to them.