Omni bridge resulted in a hacker exploiting 200 WETH from the Ethereum PoW chain
Ethereum PoW loses 200 WETH to Omni bridge vulnerability exploit.
Security firm BlockSec identified an attack launched against the Ethereum PoW chain, Omini bridge resulting in a hacker exploiting 200 WETH from the Ethereum PoW chain.
The hacker transferred 200 WETH from the Ethereum PoS chain through the Omni bridge.
2/ We have notified @EthereumPow and similar issues may exist in other protocols. Here is an example of exploitation transactions:— BlockSec (@BlockSecTeam) September 18, 2022
PoS tx: https://t.co/MPnKwCWHTJ
Exploitation tx on @EthereumPoW :https://t.co/ZyhXmolfM1
Omni bridge failed to replicate chainID before approving the transaction after the PoW chain was drained of 200 WETH.
According to BlockChain security audit company Certik, hackers transferred the funds through Mexc Global for possible cashout.
ETHW core developers clarified that the replay attack was impossible against EthereumPoW as it enforced EIP 155.
ETHW core added that the attack exploited a contract vulnerability of the Omni bridge the bridge has been informed to address the issue.
However, Crypto exchanges like FTX, OKK, and Bybit rallied around to see that spot trading opened for the ETHW token on Sept 15 ETHW price reached an all time high of $60.68.
Furthermore, the general market decline and low excitement post-merge ETHW has fallen below $5 shedding off over 90% of its all-time high gain.