Hi HODLers and MATIC lovers,
Today I just learned about possibly what could have been the biggest exploit of L1 Blockchain
Sometimes you have good people. This hacker for example helped Polygon avert a multi bn disaster in early December, he won a $2.2 million bug bounty.
His name: Leon Spacewalker! He helped to fix a critical Polygon smart contract that held more than 9 billion MATIC tokens on Dec. 3, then worth around $20.2 billion.
Polygon developers fixed it by December,5th.
Despite them rushing to fix it some other hackers took advantage of it:
Separate hackers pilfered 801,601 MATIC tokens (then worth around $1.4 million) on Dec. 4. Polygon Foundation said it took the hit.
They pushed the update and some validators were angry that they did it silently. They did it so there would not be too much spotlight and other abusers ! I believe this was the good move even if indeed transparency took a hit.
Polygon fundation replied:
“There is a natural tension between security and transparency,” the team said in its blog post
What do you think about this story breaking out kind of late? Is it a goood management strategy from Polygon?
Source: Polygon Discloses Patched Exploit That Put 9B MATIC at Risk
