ILITY Network experiences security incident; cross-chain bridge temporarily paused

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ILITY Network reported a security incident in on-chain news, with its cross-chain bridge temporarily paused on October 19 (UTC+8). The team is collaborating with law enforcement and investors to investigate. A wallet removed privacy on 35,700 ZEC ($41 million), transferring funds via NEAR Intents to Bitcoin and Ethereum. The address is linked to the ILITY bridge, where 4.1 million ILY tokens were drained. The outgoing address still holds $25 million in ZEC. A network upgrade is being considered as part of the response.

ME News reports that on October 19 (UTC+8), the crypto signals social platform ILITY tweeted that a security vulnerability occurred on its network, and its cross-chain bridge has been temporarily suspended. The team is collaborating with law enforcement, cryptography forensic experts, and investors to investigate the incident and commits to providing further updates as more information becomes available.
According to on-chain analyst Specter, a wallet recently lifted privacy protections on 35,700 ZEC (approximately $41 million) and began transferring funds. The funds were moved cross-chain via NEAR Intents and routed through multiple addresses into the Bitcoin and Ethereum networks. This suspected theft address is also linked to the ILITY cross-chain bridge, where 4.1 million ILY tokens were emptied. The outgoing address currently holds approximately $25 million in ZEC. (Source: Foresight News)

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