Allbridge Core Halted After $1.65M Solana Exploit
The firm said it recovered most of the funds and changed liquidity and withdrawal calculations after the attack.
- Allbridge Core paused its cross-chain stablecoin protocol after an attacker stole roughly $1.65 million from Solana liquidity pools, according to security firms CertiK and PeckShield.
- Flash loans—borrowed and repaid within a single transaction—enabled the attacker to manipulate Allbridge's liquidity pools that transfer native stablecoins like USDC and USDT between blockchains without wrapped versions.
- The attacker used a $1.12 million USDC flash loan from Kamino to manipulate the USDC/USDT pool ratio and withdraw assets at favorable rates before rebalancing; stolen funds were bridged to Ethereum addresses.
- Allbridge urged liquidity providers to withdraw funds from affected pools during investigation and later recovered most stolen assets while modifying its withdrawal calculations and asking traders to return gains for LP compensation.
- The exploit mirrors a 2023 flash loan attack that drained roughly $650,000 from Allbridge's BNB Chain pools, revealing persistent vulnerabilities despite the protocol raising $2 million in 2022 for security audits.
30 Articles
30 Articles
Hacker Exploits Allbridge Core, Draining $1,660,000 Worth of Crypto From Cross-Chain Stablecoin Bridge
A hacker manipulated the swap mechanics of a liquidity pool on the cross-chain stablecoin bridge Allbridge Core, looting $1.66 million worth of digital assets over the weekend. In a post-mortem of the incident, Allbridge notes the hacker used a flash loan and exploited the swap logic of its Solana (SOL) liquidity pools. The attacker borrowed […] The post Hacker Exploits Allbridge Core, Draining $1,660,000 Worth of Crypto From Cross-Chain Stablec…
Allbridge Core Pauses Cross-Chain Bridge after $1.65M Exploit
Allbridge, the company behind cross-chain stablecoin bridge Allbridge Core, said it has paused the protocol as a precaution after a “security incident” that reportedly saw $1.65 million drained on Sunday. The incident affected Allbridge Core’s Solana deployment, with the attacker having already bridged the stolen funds from Solana to Ethereum before moving them into privacy pools. “Allbridge Core is experiencing a security incident,” it said in…
Key points of the news: Allbridge paused its cross-chain protocol after a loan flash exploit that drained approximately $1.65 million of its pools in Solana. The attacker took a $1.12 million loan from Kamino to manipulate the pool internal ratios and withdraw assets at favorable rates. Stolen funds were transferred from Solana to Ethereum and dispersed through mixing protocols to make tracking difficult. Allbridge suspended its cross-chain prot…
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