A hundred million dollars. That's the latest in a series of successful hacks carried out by the same group of people.
A bridge that helps facilitate transfers between different cryptocurrencies was the site of a $100 million theft. In a post on its website, the company explained that it had fallen victim to a malicious attack.
Tweet may have been deleted(opens in a new tab)
The bridge was compromised by multiple transactions that stole token from it.
According to Elliptic, a number of different cryptocurrencies were stolen as a result of the bridge. According to Elliptic, several coins were part of the hack. The hacker was able to convert the stolen token to ether.
The FBI as well as exchange partners were contacted by the company. The exploit did not affect the bridge.
A weakness in the security of the bridge was pointed out by a user in April. The transfer of funds can only be authorized by two multisig private keys.
Bad actors have exploited a bridge weakness before. The $100 million lost here is on the low end compared to other thefts this year.
A play-to-earn game had its bridge hacked in March, which resulted in $615 million in stolen assets. $320 million in losses was caused by the Wormhole bridge being compromised.
All Rights Reserved © 2024
