Celer Network shuts down bridge over potential DNS hijacking
Interoperability protocol Celer Network (CELR) has asked its users to revoke the approval for several contracts after shutting down its cBridge over a suspected DNS hijacking.
According to the project's initial analysis, there was some suspicious DNS activity at around 7 PM (UTC) on Aug. 17. However, the platform is still trying to investigate and know more about the issue at the time of writing.
Meanwhile, as the platform continues to pinpoint the problem, the team has shut down the cBridge as an initial way to avoid any more mishaps and protect their users. In addition to shutting down the bridge, the platform also warned its users and advised them to revoke token approvals for smart contracts in Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), Binance Smart Chain, Arbitrum, Astar and Aurora.
If you recently used cBridge, please make sure to check and revoke any token approval for the following contracts:Ethereum: 0x2A2aA50450811Ae589847D670cB913dF763318E8BSC: 0x5895da888Cbf3656D8f51E5Df9FD26E8E131e7CF(cont' in next thread) https://t.co/HJbCxq4RqN
Users can go to the token approval page for each network if they want to revoke the approvals as a precautionary measure while the platform continues to examine the issue and come up with a solution.
In January, Ethereum co-founder Vitalik Buterin expressed his disapproval of cross-chain bridges because of their fundamental security limitations. According to Buterin, while the future will be multi-chain, it may not be cross-chain.
Related: Cross-chains in the crosshairs: Hacks call for better defense mechanisms
Meanwhile, bridge exploits have become more prevalent in the crypto space, resulting in $2 billion in losses in 2022 alone. According to a report by blockchain
Read more on cointelegraph.com
