Key Highlights:
- Allbridge Core was exploited for approximately $1.65 million.
- The protocol has been paused while the team investigates.
- Users have been advised to withdraw liquidity from affected pools.
Cross-chain bridge Allbridge Core has paused operations after suffering a flash loan exploit that resulted in approximately $1.65 million in losses.
According to blockchain security firms, the attacker manipulated stablecoin liquidity pool ratios using a flash loan before withdrawing funds at favorable exchange rates. The stolen assets were later bridged from Solana to Ethereum.
Following the incident, the team paused the protocol and urged users to remove liquidity from affected pools while the investigation continues.
Allbridge also noted that the exploit created a temporary arbitrage opportunity and asked anyone who profited from it to voluntarily return funds to help reimburse affected liquidity providers.
