Why are cross-chain bridges always prime targets for attackers?
My understanding: Transferring assets across chains involves more layers of trust than transferring them on the same chain. In addition to trusting both chains themselves, you also have to trust the bridge’s smart contract code and verification mechanisms.
WBTC is a wrapped token on Ethereum pegged to Bitcoin. Each WBTC corresponds to 1 bitcoin held by a custodian.
What I do: When transferring a large amount of assets across chains, I first send a small test transaction. Once it arrives, I transfer the rest.
$ZRO and $W are the tokens of the cross-chain messaging protocols LayerZero and Wormhole, respectively.
My understanding: Transferring assets across chains involves more layers of trust than transferring them on the same chain. In addition to trusting both chains themselves, you also have to trust the bridge’s smart contract code and verification mechanisms.
WBTC is a wrapped token on Ethereum pegged to Bitcoin. Each WBTC corresponds to 1 bitcoin held by a custodian.
What I do: When transferring a large amount of assets across chains, I first send a small test transaction. Once it arrives, I transfer the rest.
$ZRO and $W are the tokens of the cross-chain messaging protocols LayerZero and Wormhole, respectively.