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Verus-Ethereum bridge under live attack with $11.6 million drained

Photo: Verus

Verus-Ethereum bridge under live attack with $11.6 million drained

On-chain data shows millions flowing out of the cross-chain bridge to various addresses, raising questions about the security of yet another DeFi bridge.

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By Editorial Team
Edited by Vivian

Verus, an open-source blockchain network built around privacy, decentralization, and multichain infrastructure, has lost approximately $11.6 million to an ongoing exploit targeting its Ethereum bridge, according to security firm Blockaid.

The total is expected to climb as the attack stays active. The Verus team has not commented on the reported incident so far.

Cross-chain bridges have long been a favored target for hackers due to the complexity of their smart contract architecture and the large volumes of assets they typically hold in escrow.

The Verus-Ethereum bridge, which allows users to transfer value across chains while accessing Verus-native features, joins a growing list of bridge protocols to have suffered major security breaches.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
DEFI

Verus-Ethereum bridge under live attack with $11.6 million drained

Verus-Ethereum bridge under live attack with $11.6 million drained

On-chain data shows millions flowing out of the cross-chain bridge to various addresses, raising questions about the security of yet another DeFi bridge.

By Editorial Team
Edited by Vivian

Share

Add us on Google

Photo: Verus

Verus, an open-source blockchain network built around privacy, decentralization, and multichain infrastructure, has lost approximately $11.6 million to an ongoing exploit targeting its Ethereum bridge, according to security firm Blockaid.

The total is expected to climb as the attack stays active. The Verus team has not commented on the reported incident so far.

Cross-chain bridges have long been a favored target for hackers due to the complexity of their smart contract architecture and the large volumes of assets they typically hold in escrow.

The Verus-Ethereum bridge, which allows users to transfer value across chains while accessing Verus-native features, joins a growing list of bridge protocols to have suffered major security breaches.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.