Odaily Planet Daily reports that Oraichain stated the incident yesterday stemmed from a vulnerability in the EVM cross-chain transfer pathway, which led to the unauthorized minting of ORAI. Since 04:00 UTC on August 9, the network has been suspended, and the bridge contract, cross-chain pathways, and public interfaces have been restricted. The vulnerable pathway has been identified and addressed, and associated fund transfer routes have been limited. The team is collaborating with partners and centralized exchanges to restrict further fund movements and protect affected assets. Investigations and account reconciliations are ongoing, and the team is preparing to restore ORAI’s standard supply by burning the unauthorized minted balances and reconciling and repairing the affected protocol states.
Oraichain Halts Network After Unauthorized ORAI Minting via Cross-Chain Vulnerability
KuCoinFlashShare
Summary
Oraichain paused its network on August 9 at 04:00 UTC after on-chain reports revealed unauthorized ORAI minting through a cross-chain vulnerability. Bridge contracts and public interfaces have been restricted as the team works to limit fund movements. Partners and exchanges are assisting in safeguarding assets. Reconciliation is ongoing, with unauthorized tokens to be burned and protocol states restored. A network upgrade is being planned to fix the vulnerability and restore the integrity of the token supply.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.