Allbridge Pauses Cross-Chain Protocol After $1.65M Flash Loan Attack
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Allbridge is currently pausing its cross-chain protocol after a $1.65 million flash loan attack, where an attacker manipulated Solana stablecoin pools and then transferred the funds to Ethereum. Security firms have identified the breach, and the platform is taking steps to rectify the situation, highlighting the ongoing vulnerability of cross-chain bridges to sophisticated cyber attacks.
An attacker used a flash loan to distort the bridge's Solana stablecoin pools before moving the proceeds to Ethereum, security firms said.