Layer-2 Scaling Solution zkSync Targeted in Sybil Attack
A recent Sybil attack has affected zkSync, a layer-2 scaling solution for Ethereum. In this attack, an individual gained control over an astonishing 21,877 wallets within the zkSync network. The attacker used a meticulously designed bot to automate transactions on the network with precision and efficiency.
One key aspect of the attack was the manipulation of liquidity. By adding liquidity themselves, the attacker could avoid issues related to slippage and execute transactions on the zkSync Era network effectively. Additionally, the attacker minimized costs by spending only 1.5 to 2 USD worth of ETH fees per wallet and mimicking the behavior of legitimate users and other layer-2 projects.
The attack did not go unnoticed, as a diligent observer in the crypto community managed to track down a significant portion of the fake wallets created by the attacker. The community has urged the zkSync developers to take action and identify all 21,877 fake wallets associated with the attacker’s activities.
Surge in Sybil Attacks Puts Airdrops at Risk
The crypto community is experiencing a surge in Sybil attacks, with another airdrop falling victim to this malicious tactic. Sybil attacks involve generating numerous eligible wallets to claim airdrops and profiting from the tokens received.
Connext, a cross-chain liquidity network, recently conducted an airdrop of its xERC20 $NEXT token. However, suspicions arose when a wallet created just four hours before the airdrop managed to claim over 200 tokens using multiple wallets, despite the one-claim-per-wallet rule. The wallet quickly converted the tokens into tether (USDT) and ether (ETH), resulting in a profit of approximately $38,000.
The attack also overwhelmed the airdrop’s user interface, causing a temporary outage. The incident has drawn attention to the need for improved security measures to combat Sybil attacks and protect the integrity of airdrops.
Hot Take: Sybil Attacks Pose a Serious Threat to Crypto Communities and Airdrops
Sybil attacks have emerged as a significant concern within the crypto community, posing a threat to both projects and individuals. These attacks exploit vulnerabilities in network protocols, allowing attackers to gain control over a large number of wallets or claim airdrops fraudulently.
The recent attacks on zkSync and Connext highlight the need for increased vigilance and proactive measures to detect and prevent such attacks. Developers must prioritize security enhancements, including better identity verification mechanisms and stricter rules for claiming airdrops.
Furthermore, the community’s role in identifying and reporting suspicious activities cannot be understated. Prompt detection and reporting of Sybil attacks can help mitigate their impact and protect the interests of legitimate users.
By
By
By
By
By