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first_img Arbitrum Security Committee urgently suspended the activation of the new contract Stylus and added BoLD protection

On October 2, at 11:30 AM Eastern Time, the Arbitrum Security Committee executed an emergency upgrade on Arbitrum One and Nova, suspending the activation of all new Stylus contracts on both chains, while adding a protective mechanism against BoLD single-step proofs in the dispute system of Arbitrum One. The Arbitrum Foundation stated that this action is part of ongoing proactive security measures aimed at protecting the security and integrity of the network.Stylus allows developers to write smart contracts using languages such as Rust and C++, while maintaining compatibility with the Ethereum Virtual Machine, with its programs compiled into WebAssembly format. This suspension primarily targets manually written WASM programs that do not use the standard Stylus compiler toolchain and have not yet been patched by the current version of ArbOS. The Security Committee increased the gas required for activation to the theoretical maximum by calling ArbOwner.setWasmActivationGas(2^64 - 1), making new activations economically unfeasible. Activated Stylus contracts are unaffected and can continue to execute and renew, and the deployment and execution of Solidity contracts are also unrestricted.The newly added BoLD protection allows anyone to pause the settlement from Arbitrum One to Ethereum when two conflicting and accepted answers appear in the same dispute step, which may delay unconfirmed withdrawals to allow the Security Committee to deploy fixes. Officials pointed out that the currently discovered Stylus-related vulnerabilities mainly affect the activity of the chain, such as denial-of-service attacks, and do not jeopardize user funds.

first_img SEC Commissioner Hester Peirce will resign on October 2

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), announced she will resign on October 2. She published her resignation letter on social media platform X on Friday, revealing this date. Peirce is known in the industry as "Crypto Mom," having long advocated for clear rules for the crypto industry. During the tenures of Jay Clayton and Gary Gensler as chairmen, the SEC took a tough enforcement stance on crypto, while she continued to push for industry regulation. During the Trump administration, she was involved in rule-making and was appointed last year to lead the newly established SEC crypto working group.Her work in crypto encompasses policy statements and guidance on areas such as mining, staking, and meme coins, with the most important aspect being the classification and definition of various crypto assets to clarify regulatory jurisdiction. Recently, the SEC began proposing formal rules, the first being "Regulation Crypto Assets," which establishes a framework for issuing crypto assets that does not trigger strict securities regulation. The SEC also opened a path for tokenization of securities, known as "innovation exemptions," to initiate the era of securities tokenization with a five-year limited period.Peirce will become an associate professor at Regent University School of Law. After her departure, the SEC will have only two commissioners left, Atkins and Mark Uyeda, and the rules allow the two to constitute a quorum. On the same day, the SEC released a frequently asked questions document on crypto assets, addressing how to avoid triggering the "necessary managerial efforts" determination when marketing tokens, and discussing issues such as when staking receipt tokens and secondary markets are considered "promoters" of investment contracts.
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