Jay Freeman, the developer of Cydia and IOS Jailbreak, shared on social media about a bug in the Layer-2 scaling base known as Optimism. Freeman warned that due to a patch in the protocol, it is open to endless Ethereum production.
Freeman, who recently published a blog post "Attacking an Ethereum L2 with Unbridled Optimism" explaining how he reported the security issue, provided the developers of L2 scaling solution Optimism to fix the bug. Freeman said the situation would "allow the attacker to replicate the token on any chain using the 'OVM 2.0' go-ethereum fork."
Announcing that he plans to talk about the Optimism vulnerability in 2022, Freeman was rewarded with $2 million for discovering the bug and disclosing it to the team. The software engineer's blog post explains how an attacker can issue random tokens before the bug is patched.
Ethereum (ETH) founder Vitalik Buterin recently shared his concerns about the security of cross-chain bridge platforms. Buterin opened the issue up for discussion by stating, “I am pessimistic about cross-chain applications” on Reddit. In addition to the vulnerability found in Optimism, Freeman has detailed cross-chain bridge technology.
End of February Forecast for Ethereum
Despite the recent market volatility, the CoinMarketCap community, with an accuracy of 82 percent in their predictions, predicts a price of $3,632 for Ethereum by the end of February. This represents a 17 percent increase from the current price of ETH. In the research, 70,362 people expressed their opinion in this direction. The community expects the ETH price to reach $3,850 by March 31, 2022. This marks a 24 percent increase from the current price. It should be noted that while the leading altcoin is still around 35 percent behind all-time highs, it was only trading at six-month lows last month.