TechFlow reported, according to crypto researcher bartek.eth, that on August 1, the owner of the Mode Network ETH bridge contract manually withdrew 4,880 ETH in a so-called "rescue" of stranded L2 funds.
This operation was carried out by upgrading the contract, calling the rescue() function, and then reverting the upgrade, demonstrating the owner's complete control over the funds. Bartek.eth questioned whether it was a well-intentioned rescue or a malicious act, noting it is difficult to tell the difference.
A subsequent report from EtherFi explained the reason for the fund freeze, but the actual rescue procedure did not match the described approach. He argued this incident highlights the need for better fund rescue mechanisms, including providing proof of L2 token burn, transparent L1 processing procedures, clear verification of correct withdrawal amounts, and limiting the power of a single multi-sig to instantly upgrade bridge contracts. How to balance the need to respond to errors and vulnerabilities with security remains an open question.
