Taiko warns users to exit bridges after $1m vault exploit

Ethereum scaling solution Taiko confirmed that its bridge source-signal proof validation mechanism was compromised, allowing hackers to bypass protocols and drain an estimated $1.7 million from its ERC-20 vault. Technical Flaw Leads to $1.7 Million Loss Ethereum scaling solution Taiko confirmed June 22 that its chain state verification mechanism had been compromised. As a consequence, […]

Yet another security incident has been reported today, where popular Ethereum L2 network Taiko was exploited for around $1.7 million.

Taiko’s bridge and ERC20 Vault on Ethereum suffered a compromise in its chain state verification mechanism, allowing forged proofs and unauthorized withdrawals.

The Taiko exploit highlights vulnerabilities in cross-chain bridges, raising concerns about security and investor confidence in decentralized finance. The post Taiko urges immediate withdrawal of funds from all its bridges after chain verification breach appeared first on Crypto Briefing.

Secret Network lost $4.67M due to an infinite-mint exploit on its Axelar bridge, which went undetected for seven days. The vulnerability is now patched.

Ethereum MEV bot Jaredfromsubway.eth lost $7.5M in a sophisticated exploit. Blockaid details the transaction approval trap and vulnerability in the bot's router contract.

Ethereum MEV bot JaredFromSubway was reportedly exploited for over $17M after an approval-based attack drained key tokens. Ethereum traders are reviewing a major security incident after JaredFromSubway, one of the network’s best-known MEV bots, was reportedly exploited. Blockchain security firm Blockaid said the bot lost about $7.5 million through attacker-controlled contracts designed to mislead its […] The post The $17M MEV Bot Exploit That’s Shaking Ethereum Traders appeared first on Live Bitcoin News.

Axelar has disabled its Secret Network bridge connections after a security incident resulted in the loss of roughly $4.7 million worth of bridged assets. According to Axelar, the exploit affected assets transferred from the Axelar chain to Secret Network through…