Allbridge Core Suspended After $1.65M Exploit on Solana

Allbridge has temporarily halted operations of its Core protocol after identifying a security breach and has advised liquidity providers (LPs) with positions in the affected pools to withdraw their funds. 

The incident led to losses of roughly $1.65 million, according to blockchain security firm PeckShield. The firm added that the attacker moved the stolen assets from the Solana network to Ethereum after the exploit. 

Onchain Lens attributed the attack to a $1.12 million USDC flash loan sourced from Kamino. The borrowed funds were reportedly used to distort the USDC/USDT liquidity pool’s pricing, enabling the attacker to remove liquidity under manipulated conditions before transferring the proceeds across blockchains. 

Sources: Allbridge, PeckShield, and Onchain Lens