Allbridge Exploited for $1.65M as Hacker Bridges Funds to Ethereum

Allbridge Core lost $1.65M in a Solana flash loan exploit as the attacker bridged stolen funds to Ethereum and swapped them for ETH.

• Allbridge Core experienced a $1.65 million exploit on its Solana deployment due to a flash loan attack, leading to a protocol pause.
• The attacker quickly bridged stolen funds to Ethereum and converted them to ETH, highlighting ongoing security risks in cross-chain infrastructure.
• This incident renews scrutiny on bridge security, with repeated attacks emphasizing the need for enhanced auditing and monitoring systems in DeFi.

Topics: Blockchain usage, Risk default, Integration with defi, Layer 2 scaling, Smart contract vulnerabilities, Rwa collateral lending

Tags: #allbridge #exploit #solana #ethereum #flashloan #stablecoin #crosschainbridge #securityincident #defi #usdc

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