Sui and Aptos Address Similarity Risks Funds Loss

Yuxian from SlowMist, a prominent blockchain security firm, has issued a warning about the potential risks associated with the address compatibility between Sui and Aptos, two major Layer 1 blockchains. The expert highlighted that both blockchains use a similar address format, which could lead to user errors and potential loss of funds.

Yuxian explained that while both Sui and Aptos addresses start with '0x' and have a total length of 66 characters, the underlying cryptography is different. This means that a set of mnemonic phrases can generate different addresses on these two blockchains. If a user mistakenly sends Aptos assets to a Sui address, the funds will be irretrievable. This warning aims to prevent such errors and raise awareness within the community about the importance of address verification.

In response to the advisory, several crypto exchanges, including Gate Exchange and Binance, have emphasized the importance of address verification to ensure that user assets are safeguarded against potential misdirection. This incident has also renewed focus on improving cross-chain interoperability and address validation, highlighting the need for distinct design schemes and user education by exchanges and developers.

Similar issues have been encountered with Ethereum and EVM chains, where address similarities resulted in lost funds. These historical incidents underscore the importance of distinct cryptographic designs and the need for improved standards and user education. Experts suggest that learning from these past incidents can help mitigate risks and lead to positive developments in interoperability and security measures.

The warning from SlowMist serves as a reminder of the complexities involved in the blockchain ecosystem. As more platforms emerge, interoperability and compatibility become crucial factors for users and developers alike. The incident underscores the need for standardized protocols and improved user education to prevent such issues in the future. Users are advised to stay informed about the latest developments and updates from the respective platforms, while developers are encouraged to implement robust address verification mechanisms to mitigate the risk of incompatibility issues.