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Failed Attempt to Attack ParaSpace Contract due to Gas Estimation Error

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Failed Attempt to Attack ParaSpace Contract due to Gas Estimation Error

On March 17th, the Web3 Knowledge Map Protocol 0xscope tweeted that hackers deployed a contract to attempt to attack the ParaSpace contract but failed due to a gas estimation error. After that, Blocksec finds the contract and copies it to stop. The hacker thought Blocksec was also a hacker and asked if he could retrieve his 0.71 ETH gas.

0xscope: The ParaSpace hacker failed the attack due to a gas estimation error and claimed 0.71 ETH Gas fees from Blocksec

Analysis based on this information:


On March 17th, an incident regarding the ParaSpace contract occurred on the Web3 Knowledge Map Protocol. Hackers attempted to attack the contract by deploying a contract, but their plan failed due to a gas estimation error. The attack was discovered by Blocksec, who copied the contract to stop the hackers.

Blocksec, a team of cybersecurity experts, is dedicated to securing blockchain technology and protecting it from malicious attacks. Once they discovered the attack on the ParaSpace contract, they quickly took action to prevent any further damage.

It is unclear why the hackers targeted the ParaSpace contract specifically. ParaSpace is a blockchain-based platform that focuses on decentralized storage solutions. It appears that the hackers were hoping to exploit the contract to gain access to the platform’s storage solutions. However, their lack of understanding of the gas estimation process prevented them from successfully executing their plan.

Gas estimation is a key component of the Ethereum blockchain’s transaction system. It involves estimating the amount of gas required to execute a contract or transaction. Gas is the unit of measurement used to determine the computational cost of executing a contract or transaction. Each operation in the contract or transaction requires a certain amount of gas, and the overall cost of execution is determined by the amount of gas required.

In this case, the hackers failed to correctly estimate the amount of gas required to execute the attack, leading to its failure. The attack was discovered by Blocksec, who intervened to prevent any further harm. The hackers allegedly asked Blocksec to retrieve their gas, indicating that they were not aware they were dealing with cybersecurity experts.

In conclusion, the failed attempt to attack the ParaSpace contract highlights the importance of gas estimation in the Ethereum blockchain. It also showcases the significance of cybersecurity measures in the blockchain industry. The incident emphasizes the need for heightened awareness and protection against malicious attacks, particularly in platforms dealing with sensitive data.

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