Transit Finance hack drains $1.88M from cross-chain protocol
The post Transit Finance hack drains $1.88M from cross-chain protocol appeared on BitcoinEthereumNews.com. Latest exploit marks another setback for decentralized finance infrastructure, notably cross-chain systems that have remained a prime target for hackers. Summary Transit Finance lost about $1.88 million in a fresh exploit flagged by blockchain security firm PeckShield. The attack adds to mounting pressure on DeFi protocols and cross-chain aggregators after more than $1 billion in crypto hacks this year. No recovery roadmap or technical post-mortem has been released by Transit Finance as of publication. Transit Finance, a decentralized cross-chain aggregation protocol, suffered an exploit that drained roughly $1.88 million from the platform on May 13, according to blockchain security monitor PeckShield. The breach was first reported by ChainCatcher, citing PeckShield monitoring data. Transit Finance had not issued a detailed public explanation or recovery plan at the time of public