Count of Monte Crypto: Accounting-based Defenses for Cross-Chain Bridges
<|reference_start|>Count of Monte Crypto: Accounting-based Defenses for Cross-Chain Bridges: Between 2021 and 2023, crypto assets valued at over \$US2.6 billion were stolen via attacks on "bridges" -- decentralized services designed to allow inter-blockchain exchange. While the individual exploits in each attack vary, a single design flaw underlies them all: the lack of end-to-end value accounting in cross-chain transactions. In this paper, we empirically analyze twenty million transactions used by key bridges during this period. We show that a simple invariant that balances cross-chain inflows and outflows is compatible with legitimate use, yet precisely identifies every known attack (and several likely attacks) in this data. Further, we show that this approach is not only sufficient for post-hoc audits, but can be implemented in-line in existing bridge designs to provide generic protection against a broad array of bridge vulnerabilities.<|reference_end|>
@article{liu2024count,
    title={Count of Monte Crypto: Accounting-based Defenses for Cross-Chain Bridges},
    author={Enze Liu, Elisa Luo, Jian Chen Yan, Katherine Izhikevich, Stewart
  Grant, Deian Stefan, Geoffrey M Voelker, Stefan Savage},
    journal={arXiv preprint arXiv:2410.01107},
    year={2024},
    archivePrefix={arXiv},
    eprint={2410.01107},
    primaryClass={cs.CR}
}