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Topic: Be wary of crypto/blockchain bridges! - page 2. (Read 273 times)

legendary
Activity: 2576
Merit: 1860
August 10, 2022, 10:35:13 PM
#1
There has been a growing pattern of falling bridges. It should bother everybody when that infrastructure that is supposed to connect, to move them across points, to move funds from one network to another, becomes the point of failure itself.

We've just crossed mid-year and there are already a total of at least 7 hacks of blockchain bridges with at least $1.4 billion in damage. So much traffic, so much money involved, but so little security.

  • January 18, 2022: Multichain- $3 million stolen.
  • January 27, 2022: Qubit- $80 million stolen.
  • February 2, 2022: Wormhole- $320 million stolen.
  • February 5, 2022: Meter- $4.4 million stolen.
  • March 29, 2022: Ronin- $615 million stolen.
  • June 23, 2022: Harmony Horizon- $100 million stolen.
  • August 1, 2022: Nomad- $200 million stolen.

You know the drill! Avoid them!


1. https://www.cnbc.com/2022/08/10/hackers-have-stolen-1point4-billion-this-year-using-crypto-bridges.html?
2. https://www.reuters.com/business/future-of-money/cryptoverse-blockchain-bridges-fall-into-troubled-waters-2022-08-09/
3. https://www.coindesk.com/tech/2022/08/02/nomad-bridge-drained-of-nearly-200-million-in-exploit/
4. https://www.protocol.com/fintech/crypto-bridge-wormhole-hack
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