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Tag Archives: Optimism (OP)

Hacker Withdraws 200 Billion Fake BitBTC From Optimism Bridge

The Optimism bridge supporting privacy coin BitBTC is actively being exploited for 200 billion BitBTC tokens.  Due to the technicals of the hack, the BitBTC team now has less than 7 days to implement an upgrade to minimize the damages. A Poorly Designed Bridge According to Arbitrum tech lead Lee Bousfield on Twitter, the BitBTC bride contained a “critical exploit” that left it “trivially vulnerable.” It involves the bridge’s relationship between Ethereum’s layer 1 (L1)...

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Ethereum Staking Platform Lido Taps Layer 2 Networks Arbitrum, Optimism

Crypto staking service provider, Lido, launched on Ethereum layer 2 networks Arbitrum Bridge and Optimism. Lido first revealed its plans to expand stETH across the growing layer 2 decentralized finance ecosystem in July this year. The move is expected to further improve Ethereum staking accessibility. According to the official tweet, the expansion of wstETH, which is essentially a “wrapped” version of the staking coin stETH, will allow traders to stake tokens directly on the...

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Activity Stagnates Post-Merge Ethereum, Sidechain on Losing Side

Ethereum pulled off a stunning technical upgrade that saw the popular blockchain transition to the proof-of-stake consensus model for processing transactions after six years of work. However, post-merge activity on layer-2 has dropped. According to the latest stats by Dapp Radar, the already descending unique active wallets and transactions have further dropped by 35% from August to September. A similar trend was seen in terms of Ethereum’s TVL, which fell by 5.6% to $31.41...

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