ALLBRIDGE CORE EXPLOITED: $1.65M BREACH EXPLAINED @Allbridge_io is a cross-chain protocol designed to transfer assets between different blockchains. It's currently facing one of the most critical moments in its history. After discovering a critical vulnerability, the team has paused the protocol entirely. WHAT HAPPENED: A hacker exploited the protocol and drained approximately $1.65M in assets THE ATTACK METHOD: • Attacker took a $1.12M flash loan via Kamino protocol on Solana • Artificially manipulated the USDC/USDT liquidity pool price • Used the price manipulation to exchange just a few thousand $USDT for over $2M in $USDC at inflated rates • Repaid the flash loan and kept the profit COVER TRACKS: Stolen funds were bridged from Solana to Ethereum and routed through mixers to obscure the transaction trail RESPONSE: ✓ Protocol paused immediately ✓ Team urged liquidity providers to withdraw from affected pools ✓ Arbitrage opportunity appeared - the team asked beneficiaries to voluntarily return profits for victim compensation ✓ Full incident investigation underway This breach once again highlights how even established DeFi protocols remain vulnerable to sophisticated attack vectors. Security in crypto is a constant battle. #Allbridge #DeFi #CryptoSecurity #FlashLoan #Blockchain #Exploit #Web3 #Solana #Ethereum #CryptoNews