Cryptocurrency

Ethereum PoW loses 200 WETH to Omni bridge vulnerability exploit

Zegex

A replay attack against Omni Bridge has allowed hackers to steal 200 WETH from the Ethereum PoW chain.

On September 18th, security firm BlockSec identified a replay attack launched against the Ethereum PoW chain.

The attacker transferred 200 WETH from the Ethereum PoS chain through Omni Bridge. This transaction was reportedly replicated on the Ethereum PoW chain.

Omni Bridge was unable to verify the actual chainID before approving the transaction. As a result, the PoW chain ran out of 200 WETH.

According to security company certic, The attackers transferred funds through Mexc Global for possible cashing.

Ethereum PoW is Saf

From the TX hash of the exploit, ETH PoS When ETH PoW I had different transaction data.

ETHW Core Developer clarified Due to enforcing EIP-155, replay attacks against EthereumPoW were not possible.

By design, EIP-155 contains the transaction’s chainID to avoid replaying the transaction on a different chain.

ETHW Core added that the attack exploited a vulnerability in Omni Bridge’s contract. The bridge has been notified to address this issue.

Slow adoption of ETHW

Since its launch on September 15th, Ethereum PoW has seen little adoption by the cryptocurrency community.

Major exchanges such as FTX, OKX and Bybit gathered to launch spot trading of the ETHW token on September 16th. As a result, the price of ETHW hit a record high of $60.68.

However, general market declines and low post-merger excitement drove ETHW down under $5, Reduces over 90% of all-time gains as press time.

The Grayscale investment has hinted at plans to sell 3.1 million ETHPoW airdrop tokens. The company said it would sell the tokens and redistribute the proceeds to shareholders.

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