Key points
- Optimism has returned to authorized fraud testing due to vulnerabilities found in audits.
- A hard fork called “Granite” is scheduled to take place on September 10 to upgrade the Optimism network.
Share this article
Optimism has reverted its network to a permissioned state after community-driven audits identified several bugs in its recently launched permissionless fraud-proof system, including two high-severity issues.
The Optimism Foundation announced the rollback of X, stating that the move was taken “out of an abundance of caution” to prevent potential instability while the vulnerabilities are fixed.
In March the optimism began Testing your system for failover on Ethereum’s Sepolia testnet to boost security and decentralization and address criticisms over previous vulnerabilities.
The decision comes just over two months after the network implemented permissionless fraud testing on June 10, followed by its token unlock eventThis improved the network and allowed withdrawals of ERC-20 tokens and Ether, a milestone that allowed it to reach Stage 1 of decentralization as described by Ethereum co-founder Vitalik Buterin.
Mofi Taiwo, a protocol engineer representing Optimism contributor OP Labs, presented a proposal The reasons for activating the backup system were detailed in the network’s governance forum. The post highlighted that no vulnerabilities had been exploited and that users’ assets were never at risk.
“While auditors discovered some high-severity issues, no user assets were ever put at risk. Our monitoring tools can detect all of the audit issues listed below,” Taiwo said in the proposal.
The identified vulnerabilities primarily affect contracts related to the anti-fraud system that were not covered by the Optimism audit. These contracts were classified as having viability and reputation risks and therefore did not require formal audits according to the project guidelines.
To address the issues, Taiwo has proposed an upgrade dubbed “Granite” scheduled for September 10 at 16:00:01 UTC. The upgrade will involve several network upgrades, including an L2 hard fork. While the hard fork has not undergone a formal audit, OP Labs conducted an internal security review and deemed the changes to be low risk.
Share this article
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.