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

TheNewsCryptoPublished on 2026-07-20Last updated on 2026-07-20

Abstract

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.

Cross-chain platform AllBridge Core shut down its operations following a security issue that resulted in the loss of $1.65 million on Sunday. The hack specifically occurred within the AllBridge Core deployment on the Solana blockchain. The attacker transferred the funds stolen via the bridge from Solana to the Ethereum blockchain. The hacker swiftly transferred the stolen funds through privacy pools to cover his tracks.

The perpetrator executed a well-thought-out flash-loan strategy to influence the exchange rate in the pool for stablecoins. As per on-chain data, the hacker took out a loan of $1.12 million in USDC from the lending platform Kamino. Quick switching between USDC and USDT led to a price imbalance within the pool balance. This price imbalance created a favorable arbitrage opportunity for the perpetrator.

The exploiter then took the liquidity from the pool at exaggerated prices to gain huge profits. The profit earned after repayment of the Kamino loan was retained by the perpetrator as loot. The entire trade reveals major flaws in the mathematical equation of the automated market maker pricing system.

Recurrent Cross-Chain Bridge Attacks

This particular event marks the second instance of an attack on Allbridge Core via a flash loan hack, after a previous $573,000 heist targeting its BNB Chain pools in April 2023. In addition, pausing the bridge would mean that there are operational delays, with the process of sending funds across chains coming to a temporary halt. This would have implications not only for trading operations but would reduce the possibility of the liquidity needed by traders and institutions being moved across.

At the same time, there is a threat that long-term protocol outages will mean the loss of revenue streams due to reduced transactions, thus making users and liquidity providers consider alternative means of bridging. Finally, security pauses in cross-chain protocols act as a reminder about the security challenges associated with liquidity pools, thus requiring investors to change their risk management strategy for bridges.

Highlighted Crypto News:
FTX Bankruptcy Estate Plans $900 Million Distribution, Total Payouts Hit $10 Billion

Trending Cryptos

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

BrevisBREV

ZRX（0X）ZRX

PancakeSwapCAKE

Mysterious Whale Bets $2.5 Billion on BTC Surpassing $72,000 by August, $70,000 Mark Becomes Key

An anonymous trader executed a large bullish spread on Deribit, buying 20,000 Bitcoin call options with a $70,000 strike price and simultaneously selling 20,000 calls with a $72,000 strike. The trade, with a notional value of $2.5 billion, expires on July 31st—just two days after the upcoming Federal Reserve policy meeting. This structure positions for Bitcoin's price to rise above $70,000 by expiry, capping gains at $72,000. Bitcoin currently trades around $64,289, requiring a roughly 9% surge to reach the lower strike. The trade faces immediate obstacles, including key on-chain resistance near $69,000 and volatile inflows into U.S. spot Bitcoin ETFs, which have seen recent large daily outflows. Market predictions provide contrasting context, with some institutional analyses setting short-term support levels as low as $58,000-$59,000, while others maintain long-term bullish year-end targets. The outcome hinges on whether post-Fed demand can overcome these technical and ETF flow hurdles within the trade's brief 10-day window.

marsbit5m ago

Mysterious Whale Bets $2.5 Billion on BTC Surpassing $72,000 by August, $70,000 Mark Becomes Key

marsbit5m ago

Zcash's New Node Zakura Goes Live: Privacy Payments Can Reach 50,000 TPS, Aiming to Rival Visa and Mastercard

Zcash, a privacy-focused cryptocurrency, has launched a new full node software called Zakura version 1.0.0. Developed by Zcash co-founder Sean Bowe and Dev Ojha, with private ZEC donations, its goal is to enable Zcash to process over 50,000 transactions per second (TPS)—matching the scale of Visa and Mastercard—while maintaining full transaction privacy and verifiability. This addresses a key bottleneck, as Zcash currently handles only about 1 private transaction per second. Zakura is a fork of the Zcash Foundation's Zebra node. It features chain pruning and snapshots, reducing disk usage and allowing new nodes to sync in under two minutes. It also offers compatibility with the legacy `zcashd` client interface. The scalability challenge stems from the large data size of privacy proofs. Bowe's Tachyon project aims to use recursive proofs to reduce consensus-layer data needs from ~500 MB/s to ~100 MB/s. For wallet scalability, Valar Group is researching Private Information Retrieval (PIR) tech to allow wallets to fetch their data privately. Zakura supports fast block propagation and the upcoming "Ironwood" network upgrade (NU6.3), scheduled for activation around July 28th. Ironwood was created to contain a critical inflation bug discovered in the Orchard shielded pool in May 2024. The fix uses "turnstiles" to trap any counterfeit ZEC created during the vulnerability period within the shielded pool, preventing it from entering circulation and restoring supply integrity.

marsbit16m ago

Zcash's New Node Zakura Goes Live: Privacy Payments Can Reach 50,000 TPS, Aiming to Rival Visa and Mastercard

marsbit16m ago

Replicating the "DeepSeek Moment"? Wall Street Unanimously Says: Kimi K3 Instead Strengthens Computing Power Demand

Title: Wall Street Sees Kimi K3 as a Catalyst for Compute Demand, Not a "DeepSeek Moment 2.0" Summary: Following the release of Moonshot AI's powerful open-source model Kimi K3, initial market reaction mirrored the "DeepSeek moment" that sparked a sell-off in compute stocks earlier in 2025, fearing reduced demand for AI infrastructure. However, major Wall Street banks including UBS, Nomura, BofA, and Citi argue the opposite: K3 will accelerate, not weaken, demand for compute, memory, storage, and networking. Their analysis centers on K3's specifications—2.8 trillion parameters, 1M token context, and MoE architecture—which represent a "scale" story rather than a pure "efficiency" one like DeepSeek R1. These features increase pressure on inference, memory (especially KV cache), and storage. Analysts invoke Jevons Paradox: as high-quality models become more affordable (K3 is cheaper than top closed models but not the cheapest), usage and token volumes expand, ultimately increasing total compute consumption. The reports highlight that competition will force leading US AI labs (OpenAI, Anthropic, Google) to invest more in training and iteration to maintain their edge. Furthermore, the rise of capable open-source models like K3 is expanding the global AI developer ecosystem, with Chinese models now accounting for over 45% of developer traffic. Key beneficiaries identified across the AI infrastructure chain include memory/storage players (e.g., Micron, Samsung), compute leaders (Nvidia, TSMC), networking suppliers (due to "super-node" cluster needs for deploying K3), and cloud platforms (e.g., Alibaba) that host diverse model ecosystems. The consensus is that stronger open-source models are an entry point for the next wave of infrastructure demand diffusion, provided workload growth outpaces efficiency gains.

链捕手19m ago

Replicating the "DeepSeek Moment"? Wall Street Unanimously Says: Kimi K3 Instead Strengthens Computing Power Demand

链捕手19m ago

Prediction Markets Witness $200 Million in Suspicious Insider Trading Over Six Months, Who's Reaping the Profits?

Prediction markets are booming, with monthly trading volume exceeding $210 billion as of 2026. However, a Bloomberg investigation analyzing data from August 2025 to June 2026 reveals a parallel surge in suspicious trading, totaling roughly $200 million in the first half of 2026 on Polymarket alone. These potentially illicit trades are concentrated in geopolitical and military events, with 57% of the highest-earning wallets created less than 24 hours before trading. The analysis, using AI-driven platform Polysights, found profits are highly concentrated: the top 1% of wallets captured over half the gains. A significant portion (71%) of funds for marked trades originated from U.S.-regulated crypto exchanges, despite Polymarket's ban on U.S. users. Traders are increasingly using coordinated clusters of wallets and focusing on smaller markets to avoid detection. Two major criminal cases highlight the risks: a U.S. Army sergeant was charged for using classified information on a Venezuela operation to profit nearly $410,000, and an Israeli reservist allegedly leaked details of an Iran strike for a $128,400 gain. Regulatory scrutiny is intensifying. The CFTC is investigating Polymarket, congressional bills aim to ban insiders from trading, and major firms like Goldman Sachs have restricted employee participation. In response, Polymarket has updated its rules against insider trading and provided wallet data to authorities. The core challenge remains distinguishing between skilled research and trading on non-public information in a market designed to price such knowledge.

Foresight News29m ago

Prediction Markets Witness $200 Million in Suspicious Insider Trading Over Six Months, Who's Reaping the Profits?

Foresight News29m ago

Trump Backs Down on Ethics Provision, as 'CLARITY Act' Enters Senate's Critical Window

On July 21st, sources report President Trump has agreed to include ethics provisions in the *CLARITY Act*, a major digital asset market structure bill, clearing a key obstacle after months of negotiation. The bill, which has already passed the House, aims to establish federal regulatory clarity for crypto by defining SEC and CFTC roles. The text is expected imminently, with a narrow window for Senate passage before the August recess. However, passage remains uncertain due to potential Democratic opposition over the ethics rules and the absence of key Republican senators. The ethics clause, a major sticking point, seeks to restrict federal officials, including the president, from profiting from digital assets while in office. This directly addresses controversies around Trump's own crypto holdings. While industry lobbyists urge Congress not to let ethics derail the broader bill, several Democratic senators have demanded stricter provisions covering family members and stronger consumer protections. Amid this legislative push, on-chain data shows significant Bitcoin accumulation by large holders ("whales") in recent weeks. After extended outflows, U.S. Bitcoin and Ethereum spot ETFs have seen two consecutive weeks of net inflows. Major corporate holders like Strategy and Metaplanet continue to accumulate or hold significant Bitcoin reserves. Notably, BitMEX co-founder Arthur Hayes recently made substantial Ethereum purchases, expressing a view that while AI is absorbing market liquidity, crypto markets have room for a rebound.

marsbit1h ago

Trump Backs Down on Ethics Provision, as 'CLARITY Act' Enters Senate's Critical Window

marsbit1h ago

Trading

Spot

Hot Articles

How to Buy CORE

Welcome to HTX.com! We've made purchasing CORE (CORE) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy CORE (CORE) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your CORE (CORE)After purchasing your CORE (CORE), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade CORE (CORE)Easily trade CORE (CORE) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

5.9k Total ViewsPublished 2024.03.29Updated 2026.06.02

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of CORE (CORE) are presented below.