
OMNI Real Estate Token Exploit
How was ORT token of the OMNI Real Estate project exploited due to smart contract vulnerability?
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On October 17, 2022, BitKeep suffered an exploit on BNB Chain through a service used to…
On October 17, 2022, BitKeep suffered an exploit on BNB Chain through a service used to swap tokens, causing a loss of approximately $1 million.
BitKeep is a decentralized multi-chain cryptocurrency wallet that provides numerous digital asset management services to consumers worldwide.
The vulnerability was exploited because of a flaw in BitBTC code, in which the said contract utilized a custom bridge instead of the standard bridge that Optimism provides.
function withdrawTo(address _l2Token, address _to, uint256 _amount, uint32 _l1Gas, bytes calldata _data) external override {
_initiateWithdrawal(_l2Token, msg.sender, _to, _amount, _l1Gas, _data);
}
Thus, an adversary could deploy their own token on Optimism, give themselves the entire quantity, and set the l1Token of their token to the actual BitBTC L1 address.
An attacker withdraws billions of fake BitBTC tokens from Optimism.
To ensure that there are no other asset security issues, the team had suspended their Swap service. They also communicated and collaborated with major security agencies in order to track down the hackers and recover the stolen assets.
Security is of the foremost importance, therefore project teams should use the standard bridge as opposed to developing a custom bridge without any prior risk estimates..
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