Succinct releases fix after revealing potential SP1 vulnerability, critics say communication process lacks transparency
01-29 06:29
<p>Odaily News LambdaClass has come under scrutiny after it recently disclosed a serious security vulnerability in the proof generation process of Succinct SP1 ZKVM, a zero-knowledge proof infrastructure company. The vulnerability in SP1 version 3 was discovered in collaboration with 3Mi Labs and Aligned, and stems from the interaction of two independent security vulnerabilities.<br/> Succinct previously disclosed this potential vulnerability to its users via Github and Telegram. Although the vulnerability was quickly resolved before disclosure, the process raised concerns about the transparency of the security practices of the Zero-Knowledge Virtual Machine (ZKVM). SP1&#39;s technology is currently supporting upgrades to the rollup infrastructure under development:<br/> -Mantle Network has integrated SP1 to transition to ZK validity rollup, aiming to shorten transaction completion time and support institutional-grade asset settlement;<br/> -AggLayer uses SP1 to generate pessimistic proofs to ensure the security of its cross-chain interoperability solution;<br/> -Taiko has adopted SP1 as a ZK prover to protect its L2 execution using a multi-prover system;<br/> -Soon is a relatively new project that is building an SVM rollup framework that uses ZK fault proofs powered by SP1 to settle to Ethereum, similar to Eclipse, which uses RISC Zero.<br/> LambdaClass warns that the full impact of the vulnerability requires further assessment. It is worth noting that the exploitation of the vulnerability depends on the interaction between the two issues, which means that fixing one issue may not be enough to prevent exploitation.<br/> LambdaClass developer Fede stressed on social media that his team felt compelled to disclose the issue publicly after sensing a lack of urgency on the issue from Succinct.<br/> According to Avail&#39;s Anurag Arjun, Succinct leadership acted responsibly in fixing the issue, but he agrees that better public disclosure practices are needed. Arjun confirmed that his team was privately informed of the issue before the vulnerability was publicly disclosed. Avail&#39;s deployments were not at risk because they rely on Succinct&#39;s proprietary attestor, which remains under license. Avail&#39;s rollup clients have not yet started using their SP1-driven bridge contract, so there is no practical impact.<br/> At the same time, Succinct’s supporters point out that responsible disclosure often involves private reporting before public announcements to avoid unnecessary panic and potential exploitation.<br/> Additionally, Succinct&#39;s SP1 update version 4 (called Turbo) addresses the discovered vulnerabilities, and downstream projects have begun integrating these fixes. (Blockworks)<br/></p>
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2025-06-09 06:33:00
Former Huaxing Capital investor: Investing in Circle seven years ago was a matter of luck, but its current market value of $20 billion is unexpected
Odaily News Lei Ming, who was once an investor in Huaxing New Economy Fund, invested in Circle in 2018. In his latest interview, he said that there was a certain amount of luck in investing in Circle seven years ago. At that time, Circle&#39;s main business was not stablecoins, and its valuation was only US$3 billion. Now the market value of US$20 billion is somewhat unexpected. The core judgment of investing in Circle is that blockchain technology can create very large commercial and social value in the future. The essence of finance is license ability, and Circle happened to be the one with the most complete licenses at that time. Circle was listed on the New York Stock Exchange last week, becoming the &quot;first stock of global stablecoins&quot;. After two trading days, the stock price has risen by 247.42% from the issue price, with a market value of approximately US$24 billion. This IPO issuance of Circle ultimately raised US$1.1 billion and received more than 25 times oversubscription. (IPO Early Knowledge) Earlier news, Hong Kong-listed company Huaxing Capital disclosed that its Huaxing New Economy Fund had invested in Circle as early as 2018. The company will continue to be optimistic about the development of blockchain technology and actively explore the layout in the fields of Web3.0 and cryptocurrency assets.
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Former Huaxing Capital investor: Investing in Circle seven years ago was a matter of luck, but its current market value of $20 billion is unexpected
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