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Port3 cross-chain bridges have been breached.
It's not just a small-time scam; it's about directly forging 1 billion PORT3 tokens and then crazily dumping them to cash out. The coin price plummeted by 90%, and the hacker made off with $120,000. The signature verification mechanism was as flimsy as paper, becoming invalid just like that.
This is not the first time. The frequency of issues with cross-chain bridges is absurdly high; Ronin, Wormhole, Nomad... which one isn't a multi-million dollar disaster? After each incident, they always say "strengthen security audits," but vulnerabilities keep popping up one after another.
What's even more ironic? Hasn't blockchain always touted "code is law" and "decentralization is inherently more secure"? What’s the result? Open source code has instead become a hacker's playbook, multi-signature mechanisms have been circumvented, and verification logic has been compromised. With so many projects on the BNB chain, Port3 is not some small workshop either, yet it also faced failures.
So the question arises: Does a decentralized architecture make the system more robust, or does it just distribute vulnerabilities across each node? Does the design logic of cross-chain bridges as a "connector" inherently contain an unsolvable security paradox?
What do you think? Let's chat in the comments below 👇
Counterfeiting 1 billion coins to cash out 120,000, the hacker's efficiency is too low, it’s hilarious
Code is law, but the law can't stop the loopholes, bro
What happened to the promised Decentralization? It's even more fragile than centralization.
However, regarding the hack of Port3, I think the problem doesn't lie in the bridge itself... the audit team might also be quite embarrassed.
With so many bloodshed incidents, no one has figured out how to completely solve this yet? It's a bit despairing.