Gnosis Chain has upgraded its network to address the issue that enabled hackers to steal $11 million from two DeFi protocols operating on its network last month.
“All application builders on Gnosis Chain can now assume tokens bridged via the native bridge are not prone to the reentrancy attack anymore, which caused the hacks of Agave and Hundred Finance,” said Stefan George, co-founder and chief technology officer of Gnosis.
Gnosis Chain (formerly known as xDai Chain) is a prominent sidechain—a blockchain that runs alongside Ethereum—that is managed by GnosisDAO. According to DeFiLlama, there are more than $287 million in cryptocurrencies stored in apps running on its network.
According to an official article from Gnosis Chain, the hard fork—a major network modification—went live today at block number 21,735,000, approximately 6:30 AM UTC.
The idea comes after two DeFi protocols on the Gnosis Chain, Hundred Finance and Agave, were targeted by reentry attacks and allegedly lost $11 million in different tokens to hackers. These attacks were carried out as a result of a vulnerability in a smart contract that wraps Ethereum-based currencies on the OmniBridge, Gnosis Chain’s official bridge connecting to the Ethereum blockchain.
A security audit conducted last year revealed a mismatch between bridged tokens on OmniBridge and the ERC-20 token standard upon which Ethereum tokens depend.
