BRC20 Pinning Attack
Fuente:
arXiv
Salvato in:
| Autori principali: | , , , , , , , |
|---|---|
| Natura: | Preprint |
| Pubblicazione: |
2024
|
| Soggetti: | |
| Accesso online: | |
| Tags: |
Aggiungi Tag
Nessun Tag, puoi essere il primo ad aggiungerne!!
|
| _version_ | 1866912413576593408 |
|---|---|
| author | Qi, Minfeng Wang, Qin Wang, Zhipeng Zhong, Lin Gao, Zhixiong Zhu, Tianqing Chen, Shiping Knottenbelt, William |
| author_facet | Qi, Minfeng Wang, Qin Wang, Zhipeng Zhong, Lin Gao, Zhixiong Zhu, Tianqing Chen, Shiping Knottenbelt, William |
| contents | BRC20 tokens are a type of non-fungible asset on the Bitcoin network. They allow users to embed customised content within Bitcoin's satoshis. The token frenzy reached a market size of US\$2.811\,b (2023Q3--2025Q1). However, this intuitive design has not undergone serious security scrutiny.
We present the first analysis of BRC20's \emph{transfer} mechanism and identify a new attack vector. A typical BRC20 transfer involves two "bundled" on-chain transactions with different fee levels: the first (i.e., \textbf{Tx1}) with a lower fee inscribes the \textsf{transfer} request, while the second (i.e., \textbf{Tx2}) with a higher fee finalizes the actual transfer. An adversary can send a manipulated fee transaction (falling between the two fee levels), which causes \textbf{Tx1} to be processed while \textbf{Tx2} is pinned in the mempool. This locks BRC20 liquidity and disrupts normal withdrawal requests from users. We term this the \emph{BRC20 pinning attack}.
We validated the attack in real-world settings in collaboration with Binance researchers. With their knowledge and permission, we conducted a controlled test against Binance's ORDI hot wallet, resulting in a temporary suspension of ORDI withdrawals for 3.5 hours. Recovery was performed shortly after. Further analysis confirms that the attack can be applied to over \textbf{90\%} of inscription-based tokens within the Bitcoin ecosystem. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2410_11295 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | BRC20 Pinning Attack Qi, Minfeng Wang, Qin Wang, Zhipeng Zhong, Lin Gao, Zhixiong Zhu, Tianqing Chen, Shiping Knottenbelt, William Cryptography and Security Computational Engineering, Finance, and Science Emerging Technologies BRC20 tokens are a type of non-fungible asset on the Bitcoin network. They allow users to embed customised content within Bitcoin's satoshis. The token frenzy reached a market size of US\$2.811\,b (2023Q3--2025Q1). However, this intuitive design has not undergone serious security scrutiny. We present the first analysis of BRC20's \emph{transfer} mechanism and identify a new attack vector. A typical BRC20 transfer involves two "bundled" on-chain transactions with different fee levels: the first (i.e., \textbf{Tx1}) with a lower fee inscribes the \textsf{transfer} request, while the second (i.e., \textbf{Tx2}) with a higher fee finalizes the actual transfer. An adversary can send a manipulated fee transaction (falling between the two fee levels), which causes \textbf{Tx1} to be processed while \textbf{Tx2} is pinned in the mempool. This locks BRC20 liquidity and disrupts normal withdrawal requests from users. We term this the \emph{BRC20 pinning attack}. We validated the attack in real-world settings in collaboration with Binance researchers. With their knowledge and permission, we conducted a controlled test against Binance's ORDI hot wallet, resulting in a temporary suspension of ORDI withdrawals for 3.5 hours. Recovery was performed shortly after. Further analysis confirms that the attack can be applied to over \textbf{90\%} of inscription-based tokens within the Bitcoin ecosystem. |
| title | BRC20 Pinning Attack |
| topic | Cryptography and Security Computational Engineering, Finance, and Science Emerging Technologies |
| url | https://arxiv.org/abs/2410.11295 |