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zeekay
abf99d05fc
Restructured from flat .tex/.pdf files into per-paper subdirectories. Added Antje Worring as co-author on all papers. Synced PDFs to pdfs/ for download site.
33 lines
1.2 KiB
TeX
33 lines
1.2 KiB
TeX
\section{Introduction}
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Cross-chain bridges fail because of the message layer. The pattern is consistent:
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\begin{enumerate}[leftmargin=2em]
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\item A message claims ``\$X was deposited on chain A.''
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\item Chain B trusts this message and releases \$X.
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\item The message was forged, replayed, or referred to a reverted transaction.
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\end{enumerate}
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\subsection{History of Bridge Exploits}
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\begin{center}
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\begin{tabular}{llrl}
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\toprule
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\textbf{Bridge} & \textbf{Date} & \textbf{Loss} & \textbf{Root Cause} \\
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\midrule
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Ronin & Mar 2022 & \$625M & Compromised 5-of-9 validator keys \\
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Wormhole & Feb 2022 & \$325M & Signature verification bypass \\
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Nomad & Aug 2022 & \$190M & Initialization bug (any message valid) \\
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Harmony Horizon & Jun 2022 & \$100M & Compromised 2-of-5 multisig \\
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BNB Bridge & Oct 2022 & \$586M & IAVL proof verification bug \\
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Multichain & Jul 2023 & \$126M & Centralized key compromise \\
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\midrule
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\textbf{Total (top 6)} & & \textbf{\$1.95B} & \\
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\bottomrule
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\end{tabular}
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\end{center}
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Every exploit reduces to one of three failures: (1) the message authentication was bypassable, (2) the authenticating committee was too small, or (3) replay/revert protection was missing.
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