An $XRP bridge was drained after it mistakenly treated deposits that never actually happened as real.
The attacker exploited the bridge’s deposit-detection logic between the $XRP Ledger and the tx chain, minting bridged XRP without receiving the underlying XRP. They then swapped the bridged tokens for real $XRP .
Around 200,000 XRP was drained across 94 payments. Each transaction was signed by 17 of the bridge’s 28 relayers, and the bridge’s own records showed the deposits as valid.
Importantly, @Ripple’s ledger itself was not compromised. However, @txEcosystem says the bridged XRP on its chain is no longer fully backed.
A good reminder that even when every signature checks out, the underlying logic can still be the weakest link.
#CryptoNewss
The attacker exploited the bridge’s deposit-detection logic between the $XRP Ledger and the tx chain, minting bridged XRP without receiving the underlying XRP. They then swapped the bridged tokens for real $XRP .
Around 200,000 XRP was drained across 94 payments. Each transaction was signed by 17 of the bridge’s 28 relayers, and the bridge’s own records showed the deposits as valid.
Importantly, @Ripple’s ledger itself was not compromised. However, @txEcosystem says the bridged XRP on its chain is no longer fully backed.
A good reminder that even when every signature checks out, the underlying logic can still be the weakest link.
#CryptoNewss