CEO of Aurora Labs, Alex Shevchenko, announced Monday that the NEAR-ETH Rainbow Bridge defended an attack over the weekend resulting in the hacker losing 5ETH. Showcasing a highly effective defense mechanism to protect users’ funds within the bridge. The Rainbow Bridge allows users to move $ETH, $NEAR, and ERC-20 tokens between networks. However, the bridge “is based on trustless assumptions with no selected middleman to transfer messages or assets between chains.” These assumptions mean that anyone can interact with smart contracts “usually with bad intentions.”.
NEAR Rainbow Bridge defends weekend attack costing hacker 5 ETH
