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Allbridge Suspends Core Protocol After $1.65M Solana Flash Loan Exploit

Cross-chain protocol AllBridge Core suspended operations after suffering a $1.65 million flash loan exploit on its Solana deployment. The attacker manipulated a stablecoin pool's exchange rate using a $1.12 million USDC loan from Kamino, creating a price imbalance to perform a profitable arbitrage. Stolen funds were moved to Ethereum via privacy pools. This is the protocol's second such attack, following a $573,000 exploit in April 2023. The suspension causes operational delays, reduces cross-chain liquidity, and highlights persistent security vulnerabilities in bridge protocols and automated market maker systems.

TheNewsCrypto07/20 07:41