Thought I would share my sim swapping story and how I lost everything, hopefully it’s helpful, entertaining or of some value to people. Mid day…
The last month of 2019 has started with bad news for two relatively small projects in the Cryptoverse: a crypto exchange, CryptoBridge, ranked 187, is shutting down, while a coin, ranked 235th, Vertcoin (VTC), experienced another 51% attack.
In this paper, bribing attacks and similar techniques, which we refer to as incentive attacks, are systematically analyzed and categorized. We show that the problem space is not fully explored and present several new and improved incentive attacks.
TL;DR: Optimistic rollup relies on absolute censorship-resistance of L1 for its security. While L1 provides some decent economic incentives against mass censorship, it is easy to construct a scenario in which censorship of a particular single transaction is strongly rewarded, while non-censoring behavior is strongly penalized for a prolonged period of time. Optimistic Rollup’s 1 honest observer assumption is in reality 51% altruistic (not just honest!) L1 miners assumption.