Cross-chain protocol Allbridge halts after $1.65 million flash loan exploit

60-second summary

Allbridge's cross-chain protocol is currently halted after a $1.65 million flash loan exploit occurred, with the attacker utilizing a $1.12 million loan from Kamino to manipulate pool ratios and withdraw assets at favorable rates before bridging funds. This incident highlights vulnerabilities in cross-chain protocols and may lead to increased scrutiny of security measures within the DeFi sector.