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Allbridge just got hit by its second flash loan exploit in three years.
Allbridge paused its Core bridge after an attacker borrowed $1.12 million, used it to distort a stablecoin pool's exchange rate, withdrew liquidity at the skewed price, then repaid the loan and kept the difference, about $1.65 million.
Back in 2023, a similar exploit cost the protocol $573,000. This is also at least the sixth cross-chain bridge exploit since May, and there's a specific reason bridges keep ending up on that list.
Read the full story on UseTheBitcoin: