The blockchain security company CertiK has been given a $500,000 reward by Sui Blockchain for identifying a threat that might have brought down the entire Sui layer-1 network.
The “HamsterWheel” vulnerability has been identified, and the CertiK team explained that it differs from more frequent attacks that aim to bring down nodes and bring down blockchains.
Details of the HamsterWheel attack
The HamsterWheel attack captures nodes and enables them to continue operating without processing new transactions, much like hamsters spinning on a wheel. Networks may become paralyzed and unusable as a result of the attack.
Before Sui’s mainnet launch at the beginning of May 2023, Certick discovered the HamsterWheel flaw. Sui then moved on and implemented changes in response to the security threat to guard against any potential harm that an attack could have to the blockchain.
In appreciation for his or her work, Sui awarded CertiK a $500,000 bounty, highlighting the value of bug bounty applications and proactive safety measures.
Bitcoin safety
According to Kang Li, chief safety officer of CertiK, vulnerabilities to blockchain networks are always evolving. Li admitted that “the HamsterWheel assault’s discovery demonstrates the evolving sophistication of threats to blockchain networks.”
According to CerticK’s announcement, more technical information might be released and made readily available. Moreover, full experiences can be made available once all mitigating measures have been used and thoroughly reviewed.