Polygon Reveals Patched Exploit that Placed $24B of MATIC at Risk

Polygon Reveals Patched Exploit

Ethereum-based layer-two scaling network Polygon fixed a vulnerability that placed nearly $24B worth of its native token, MATIC, at risk.

In a blog post by Polygon, the “critical” vulnerability in the network’s proof-of-stake Genesis contract was first identified by two whitehat hackers on Dec. 3 and Dec. 4 through blockchain security and Immunefi.

The vulnerability exposed over 9.27 billion MATIC at risk that is worth around $23.6B, with the figure accounting for a larger percentage of the token’s overall supply of 10 billion.

Polygon stated that the bug was fixed at block 22,156,660 via an “Emergency Bor Upgrade” to the mainnet on December 5 at around 7:27 am UTC.

The network disclosed that the “malicious hacker” was able to steal 801,601 MATIC ($2.04M) before the bug was fully fixed.

Polygon indicated that the issue was resolved behind closed doors as it complies with the “silent patches” requirement introduced by the Go Ethereum team in November last year.

Source: CoinTelegraph

Leave a Reply

Your email address will not be published.

Related Posts