🔍 Analysis: Protocol vulnerability that caused over $1 million to vanish in an instant!
The Allbridge Core bridge protocol has just become the target of a sophisticated attack on the Solana network. The attacker exploited the exchange-rate mechanism of stablecoin pools to drain all funds.
Case details:
📍 Damage: over 1.1 million USDC
📍 Method: Price Manipulation attack
📍 Tool: Using a flash loan (Flashloan) worth 1.12 million USDC from Kamino
Deep perspective:
What’s alarming here is that the entire process—from borrowing capital, manipulating the exchange rate, to withdrawing funds and repaying the debt—happens within a single transaction. This shows that vulnerabilities in the pricing mechanisms of bridge protocols are still a “tasty target” for professional hackers.
Why should you care? As DeFi protocols become increasingly complex, checking the security of liquidity pools is extremely important. Never put all your eggs in one basket, especially with cross-chain bridges.
What do you think about the security level of today’s bridge protocols? Share your thoughts with me.
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#Security #Crypto #Hack #DeFi #Yield $SOL