Taiko Bridge Security Compromise Triggers Urgent Withdrawal Warning

Ethereum scaling solution Taiko confirmed that its bridge source-signal proof validation mechanism was compromised, allowing hackers to bypass protocols and drain an estimated $1.7 million from its ERC-20 vault. Technical Flaw Leads to $1.7 Million Loss Ethereum scaling solution Taiko confirmed June 22 that its chain state verification mechanism had been compromised. As a consequence, […]

Yet another security incident has been reported today, where popular Ethereum L2 network Taiko was exploited for around $1.7 million.

Taiko urged users to withdraw bridge funds after a verification mechanism compromise, while Blockaid reported more than $1m in vault losses.

Taiko’s bridge and ERC20 Vault on Ethereum suffered a compromise in its chain state verification mechanism, allowing forged proofs and unauthorized withdrawals.

The Taiko exploit highlights vulnerabilities in cross-chain bridges, raising concerns about security and investor confidence in decentralized finance. The post Taiko urges immediate withdrawal of funds from all its bridges after chain verification breach appeared first on Crypto Briefing.

Secret Network lost $4.67M due to an infinite-mint exploit on its Axelar bridge, which went undetected for seven days. The vulnerability is now patched.

Axelar has disabled its Secret Network bridge connections after a security incident resulted in the loss of roughly $4.7 million worth of bridged assets. According to Axelar, the exploit affected assets transferred from the Axelar chain to Secret Network through…

World Chain's unique identity verification approach could redefine Layer 2 competition, impacting investor strategies and market dynamics. The post World Chain’s bridge TVL rises 33% to $602M as WLD rallies 50% appeared first on Crypto Briefing.