As first shared by The Block, pwning.eth reported the bug in April via the bug bounty platform Immunefi, and it was swiftly fixed before any hacker could seize the opportunity to steal funds.

Read Also: Hacker to Receive $10 Million If He Returns $80 Million Stolen From Rari Capital’s Lending Pools

According to the bug bounty platform, this was a critical inflation bug on Aurora Engine, where users can deposit ETH and ERC-20 tokens from the Ethereum mainnet to the NEAR protocol.

The Bug Could Have Made Aurora Lose Over 70,000 ETH

The vulnerability, if not discovered and fixed in time, could have enabled any hacker to mint Ethereum (ETH) and drain over 70,000 ETH worth around $122 million at current prices and $210 at the time the vulnerability was reported.

Reacting to the development, the Head of security at Aurora Labs, Frank Braun, said:

“Our bug bounty program with Immunefi proved very valuable in incentivizing white hats to look at our code base and disclose bugs in a responsible manner.

“Such a vulnerability should have been discovered at an earlier stage of the defence pipeline and we have already started improving our methods to achieve that in the future. However this event ultimately proves that our security mechanisms work.”

Read Also: Hacker Who Got $250k Bounty from Coinbase for Exposing Bug That Made Him Buy 50 BTC Using 50 SHIB

It should be noted that the bug bounty program from Aurora is still active on Immunefi, including many other related programs.

As reported by The Block, a total of $40 million has been awarded to support ethical hackers and researchers so far.

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The post Hacker Receives $6 Million from Aurora Labs for Saving 70,000 ETH from Getting Stolen appeared first on Times Tabloid.

The future of the blockchain could be a multi-chain approach to networks, creating a master structure where transactions can be freely conducted across an entire ecosystem of chains. A new collaboration between Cardano (ADA) and NEAR Protocol (NEAR) is bringing this closer to life, with its infrastructure bridge.

Read Also: Charles Hoskinson: 2022 Is About Optimizing Throughput and Connecting Sidechains, It’ll Be a Fun Year for Cardano

Going by a press release shared a couple of hours ago, Ardana ($DANA), an all-in-one hub for stablecoins on the Cardano network, and NEAR, an advanced decentralized application platform, will share interconnectivity, with value and data transferal across Cardano and Near infrastructures.

Importance of Ardana to Users

Ardana gives its users the ability to mint, trade, stake, and store value on its platform. Its native token DANA is already listed on Gate.io, BitMart, and MEXC.

The protocol gives users access to an on-chain verifiably asset-backed stablecoin, where they can use leverage on ADA and other native assets to amplify the value of their positions.

Ardana also hosts a decentralized DEX, with an emphasis on stablecoins and stable assets. The DEX promises limited slippage, deep liquidity, and the ability to trade swaps, as well as giving access to high yield investment opportunities for those who stake their holdings.

Read Also: Charles Hoskinson: Many Great Innovations Are Joining Hundreds of Projects Building on Cardano

Reacting to the new development, CEO and Founder of Ardana, Ryan Matovu said:

“Ardana is on a mission to provide the crypto community with seamless integration between different projects and ecosystems. With that in mind, we are thrilled to announce a partnership with NEAR that will bring Ardana closer to this goal. The collaboration will help both organizations explore new avenues of growth in the emerging ecosystem of blockchain technology and will prove to be a landmark in the future for blockchain scalability.”

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The post Cardano (ADA) Stablecoin Hub to Build Bridge between Cardano and Near Protocol appeared first on Times Tabloid.