Ray Raspberry @RayRaspberry1
@theturkeydao Advisor & Don Quixote of the Cosmos calendar.app.google/FiYpRGgu7cYJVv… the Coop Joined November 2021-
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@AirdropGlideApp @BallsLikeKKong @cosmos Saving Grace... I see what you did there.
@mintscanio @cosmoslabs_io x.com/cosmos/status/…
Cosmos Labs is acquiring the @mintscanio product suite and welcoming select Mintscan personnel to the Cosmos Labs Ecosystem team. This business expansion adds new team members to the Ecosystem team across product, engineering, and operations. It also allocates dedicated
Now the @mintscanio purchase a few weeks ago makes sense. Cosmostation was probably going to pull the plug on the infrastrcture. @cosmoslabs_io to the rescue again.
Cosmostation will discontinue validator operations for the following networks effective July 1. Please redelegate to another validator. Althea — @AltheaNetwork Axelar — @axelar Chihuahua— @ChihuahuaChain Cronos POS Chain — @CronosNetwork Dymension — @dymension Fetchai —
@7RWcrypto @CeriseCompass @Leooweb3 @AtomicWallet @Sigma_Browser Talking about it again after the Cardano wallet drainings
@AbongileViksVik x.com/7RWcrypto/stat…
@Leooweb3 @AtomicWallet @Sigma_Browser Hack Atomic Wallet (June 2023) In June 2023, there was a massive hack of Atomic Wallet users Tens of millions of dollars were stolen (estimates: $35–100 million) Some users had their private keys/seed phrases compromised Funds were withdrawn without access to the device The
@AbongileViksVik Atomic Wallet back in 2003 trmlabs.com/resources/blog…
@AbongileViksVik I remember following this wallet draining situation at the time and it looks like statements from Atomic Wallet scrubbed their posts. ZachXBT said it wasn't phishing. x.com/zachxbt/status…
@AbongileViksVik No smoking gun unfortunately . Read 5 articles on the 2023 Atomic Wallet exploit and get 5 different reasons. The PR: atomicwallet.io/blog/articles/… Chainalysis was hired by AW to review the incident and they call it "unclear" chainalysis.com/blog/crypto-ha… More: hacken.io/discover/atomi…
@Nostradamus411 @ccclaimens @syedchoudhury @gravity_bridge To steel man for you: economics & minimum validator stake is not the issue. Your implementation issue can be patched. Raising staking requirement doesn't prevent a repeat. The fundamental issue is architecture & a trust layer relying on low trust validators gatekeeping assets.
@Nostradamus411 @ccclaimens @syedchoudhury @gravity_bridge Syed was describing this exploit, his framing was influenced by Validator and Cosmos OGs' tainted narrative of economic security. The narrative broke when incentives to be a validator dried up. With cheap access to the active set, a single validator poisoned the chain for $0.50
In 2024, @syedchoudhury satirized in detail what would be the eventual 5.4M USD exploit of @gravity_bridge An attack so obvious for even a non-engineer, only to be rebutted by "smart people" as economically infeasible In 2026, julia666 ran the exploit for $0.50 USD (80 $GRAV).
@gadikian @sommfinance @gravity_bridge So what you're saying is that - I get $500k - buy all the grav I can get my hands on - launch a Val (or a bunch to push others out) - make up and "validate" a fake tx to drain the bridge - profit $37million Unrelated to this... @gadikian can you help me setup some white-labelled
@ccclaimens @syedchoudhury @gravity_bridge How was it a flaw in the implementation? deployERC20() was permissionless by design MsgERC20DeployedClaim is gated by checkOrchestratorValidatorInSet by design No collision check on the denom registry by design Anyone with 80 $GRAV could have spun up a validator That's the point.
@sefvinur90894 @Rarma_ Not a security issue per se more an architectural issue. PoS validation is working as designed. The single point of failure are validator & governance engagement. Cosmos was never built to protect assets on a chain left unmaintained & abandoned by its team and validators.
Five Cosmos chains exploited in 35 days. ~$21M gone. Same rot. Every time. The internet's explanation for Gravity Bridge is wrong. Secret Network had 3 years to prevent theirs. Namada got drained and nobody noticed for days. [AI-drafted. Research: Mostly @Rarma_ + mine ] 🧵
@ccclaimens @syedchoudhury @gravity_bridge Which fact specifically? x.com/ccclaimens/sta…
Hey @gravity_bridge @AltheaNetwork we gotta have a serious conversation about economic security
@syedchoudhury @gravity_bridge Nope. Someone via Osmosis token factory minted junk tokens. Bridged the junk to Gravity. Spun up a validator for $0.50. Poisoned denom registry to map junk to real assets. Submitted withdrawal. Validators signed the withdrawal and $5.4M drained & validator jailed but assets gone
@AirdropGlideApp My deepest sympathies
@ZackJampolin this whole tweet is a doozy. "Economic Security is a lie" Touting @gravity_bridge security and shilling @quicksilverzone x.com/Senpai_Gideon/…
ECONOMIC SECURITY IS A LIE REALLY IM SERIOUS IF IT WASN'T A LIE, BOTH @sommfinance and @gravity_bridge would already be dead. Currently, security is coming from the validator set. Security is coming from the validators agreement or disagreement on the state of the next
"Eliminating single points of failure." Except the one that drained $5.4M in 2 minutes 31 seconds. julia666. 80 $GRAV. 12 hours.
Our validator network gives Gravity Bridge greater decentralization by eliminating single points of failure and removing the centralized authority often found in other options. We are building infrastructure focused on safety and reliability🌟 Learn more discord.gg/aEKwcDvy
@syedchoudhury @gravity_bridge Code is here. github.com/Gravity-Bridge…
@syedchoudhury @gravity_bridge x.com/RayRaspberry1/…
@ZackJampolin Also, the mechanism for the exploit is detailed in @gravity_bridge security documents with the mitigation being "halt the chain" and the invariants mitigation code checks balances on Eth side and skips Cosmos + denom registry, which is what was poisoned github.com/Gravity-Bridge…
@ZackJampolin Also, the mechanism for the exploit is detailed in @gravity_bridge security documents with the mitigation being "halt the chain" and the invariants mitigation code checks balances on Eth side and skips Cosmos + denom registry, which is what was poisoned github.com/Gravity-Bridge…
@ZackJampolin if you dig a little you can quite a few hot takes from the "geniuses" of the Cosmos on the brilliance of Gravity Bridge. x.com/RayRaspberry1/…
In 2024, @syedchoudhury satirized in detail what would be the eventual 5.4M USD exploit of @gravity_bridge An attack so obvious for even a non-engineer, only to be rebutted by "smart people" as economically infeasible In 2026, julia666 ran the exploit for $0.50 USD (80 $GRAV).
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