BeInCrypto - DeFi Cross-Chain Solution Allbridge Exploited For $570,000

in blockchain •  2 years ago 

https://beincrypto.com/defi-allbridge-hack-570/
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By acting as a liquidity provider and swapper, the hacker manipulated the price of the swap pool, exhausting the pool by 282,889 BUSD and 290,868 USDT, respectively.

Peckshield first identified the hack and alerted Allbridge to the possible manipulation of the swap-related formula.

Meanwhile, Allbridge confirmed the incident and temporarily closed the bridge for further investigation.

Watch out for bridge hacks!!

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blockchain horror hack defi cross-chain solution allbridge exploited
2 years ago by

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      ·  2 years ago 

    Thanks for sharing. Situations like this is why I have not yet provided liquidity or staked on bridging protocols.

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