Hyperbridge Exploit Losses Surge to $2.5 Million
- The Hyperbridge exploit resulted in losses of approximately $2.5 million, a tenfold increase from the initial estimate of $237,000.
- An attacker exploited a vulnerability in the Merkle Mountain Range proof verification logic to mint assets and drain escrowed assets on Token Gateway.
- Approximately 245 ETH were extracted from a related TokenGateway contract, valued at around $561,000.
- The attack also impacted three connected blockchains—Base, Arbitrum, and BNB Chain—contradicting initial reports that only wrapped DOT on Ethereum was affected.
- Stolen funds have been traced to a deposit address on Binance, with efforts underway to freeze and recover the assets.
Hyperbridge’s recent exploit highlights significant vulnerabilities in cross-chain interoperability, with losses now estimated at $2.5 million due to an attack exploiting proof verification logic flaws across multiple blockchains.
Efforts are being made to recover the stolen funds through collaboration with Binance and law enforcement, although resolution may take months or longer due to the complexity of such cases. (Source)
