Rainbow Bridge, Aurora’s cross-chain solution, is back up and running after a system shutdown due to security concerns.
On February 11, the Aurora blockchain halted transactions through the Rainbow Bridge, as a precautionary measure due to concerns surrounding the security of this cross-chain solution.
Recently, Alex Shevchenko, CEO of Aurora, informed users that Rainbow Bridge is now accessible again, with the statement that no assets were lost during the maintenance period.
The Rainbow Bridge operations has been fully restored. One can execute new transfers as well as finalise the ones that has been started before the pause.
In-depth review of the issue to follow. https://t.co/hZOfXpiOOZ
— Alex Shevchenko (@AlexAuroraDev) February 12, 2023
“Rainbow Bridge operations have been fully restored. Users can make new transactions as well as complete existing transactions before the bridge is suspended.”
Aurora is also conducting a comprehensive review to ensure the stability and security of the Rainbow Bridge. According to Shevchenko, a detailed report on the matter will be published soon.
This is not the first time Aurora has proactively prevented system failures. In April 2022, Aurora gave the money bug bounty worth 6 million USD to white hat hackers for a critical vulnerability discovery. The project later claimed to have successfully repelled an attack plot in May 2022.
Rainbow Bridge is managed by the Aurora development team, allowing users to transfer tokens between the Ethereum, Aurora, and Near blockchains. Currently, this cross-chain is holding a total value of crypto assets worth more than 250 million USD.
The cross-chain array is being considered an “Achilles heel” of the cryptocurrency market when consecutively recording serious attacks in 2022, with losses up to nearly 1.5 billion USD.