Offchain Labs discloses two serious security vulnerabilities in Optimism OP Stack

Source Fxstreet
  • Offchain Labs team disclosed two serious security vulnerabilities in Optimism to OP Labs, occurred on March 22. 
  • The vulnerabilities were found in Optimism fraud proof system deployed on the testnet. 
  • OP wiped out nearly 2% of its value in the past day. 

Offchain Labs announced in a tweet on X and on a Medium blog that the firm identified two serious security vulnerabilities in Optimism’s OP Stack. The tweet explains that these were identified in Optimism’s fraud proof system deployed on the testnet. 

Optimism Stack security vulnerabilities

Offchain Labs informed market participants that on March 22 the team disclosed two serious security vulnerabilities to the OP Labs team. The issues were identified in Optimism fraud proof system deployed on OP’s testnet.

The blockchain research firm provided the OP Labs team with demonstration exploit code for the attacks. The team at OP confirmed the validity of these issues on March 25 and these were addressed. On April 25, Optimism updated its testnet and the team at Offchain Labs is disclosing this for the first time. 

The OP Stack could have faced an attack from a malicious party and this could force the Stack to accept a fraudulent chain history. This could prevent Optimism from accepting a correct chain history. 

If the chain was attacked and the vulnerabilities were not identified and addressed, Optimism would have relied on an emergency intervention by the security council. Offchain Labs is the research firm behind Arbitrum, a competitor for Layer 2 chain Optimism. The firm says, 

We’re all on team Ethereum, and happy to lend resources to make Ethereum safer for everyone.

Optimism told FXStreet,

Getting eyes on our testnet code is a critical part of the development process. We've shared our initial audit contest findings, as well as the details of Offchain Lab's findings in this blog post.

At the time of writing, OP price is at $2.35, down over 2%, on Binance. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ripple says XRP reports will look different moving forward, avoiding an SEC repeat-case scenarioRipple CEO Brad Garlinghouse announced late Monday that the company will end its quarterly XRP Markets Report updates after Q2 2025.
Author  Cryptopolitan
May 06, Tue
Ripple CEO Brad Garlinghouse announced late Monday that the company will end its quarterly XRP Markets Report updates after Q2 2025.
placeholder
Gold Price Forecast: XAU/USD failure to breach $3,300 brings $3,250 back into focusGold (XAU/USD) is bouncing higher on Monday, but the broader trend remains bearish, following a nearly 3% decline last week.
Author  FXStreet
Jun 30, Mon
Gold (XAU/USD) is bouncing higher on Monday, but the broader trend remains bearish, following a nearly 3% decline last week.
placeholder
Ethereum Price Pops Above $2,550 — Can It Avoid a Quick Reversal?ETH is now back above $2,550 and struggling to clear the $2,620 barrier.
Author  NewsBTC
Yesterday 03: 47
ETH is now back above $2,550 and struggling to clear the $2,620 barrier.
placeholder
Solana’s first spot staking ETF launched with $33 million in trading volumeSolana’s first spot staking ETF launched with $33 million in trading volume on its debut day.
Author  Cryptopolitan
22 hours ago
Solana’s first spot staking ETF launched with $33 million in trading volume on its debut day.
placeholder
Nonfarm Payrolls set to show hiring environment in US labor market remained subdued in JuneThe all-important United States (US) Nonfarm Payrolls (NFP) data for June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.
Author  FXStreet
22 hours ago
The all-important United States (US) Nonfarm Payrolls (NFP) data for June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.
goTop
quote