Zksync has announced that it has developed a solution to release 921 ETH or $1.7 million. They were locked into Gemholic’s smart contract on the Ethereum Layer 2 network. A problem with using a .transfer() function is causing the smart contract funds to be locked.
Gemholic calls Zksync to the rescue
Gemholic is a crypto project that successfully raised 921 ETH during an IDO on the Zksync layer 2 protocol. But the funds were no longer accessible due to a smart contract function incompatibility. Right away, as reminded The Blockthe founders of Gemholic contacted Zksync to unfreeze the funds raised, which still amount to $1.7 million. As a reminder, this is a ZK-Rollup Layer 2 scaling solution developed by Matter Labs. In particular, it supports Ethereum smart contracts.
Following Gemholic’s solicitation, Zksync has announcement that “the funds are secure” and that he has ” discovered an elegant method to unlock the frozen contract “.
An elegant solution to the Gemholic problem
When the .transfer() function is used to send Ether to a smart contract, the Fallback() function is triggered. If the Fallback() function requires more than the allotted 2300 gas, the transaction may fail and the funds are stuck. To make developers aware of the risk, Zksync displays a warning on the .transfer() function directly in the compiler. This warning was most certainly ignored by the Gemholic team. To make matters worse, Gemholic deployed smart contracts on the mainnet without testing it on a testnet.
In order to fix the problem, Zksync had to perform a minor protocol level change. This solution made it possible to fully recover the funds. In statementthe team says:
” We’ve identified an elegant solution that can solve a wider class of gas-related problems. It will require minimal changes in protocol gas measurement, but will allow full recovery of funds. »
After recovering their funds, the Gemholic team thanked Zksync. She also apologized for their mistakes. More fear than harm in the end. Could this promptness motivate other networks to work faster on resolving their concerns?
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