Taiko Bridge Exploited for Up to $1.7M in DeFi Hack
BlockSec said an exposed Raiko signing key on GitHub let the attacker forge withdrawal proofs and drain about $1.7 million.
- On Monday, Ethereum Layer-2 network Taiko halted block production and urged users to withdraw assets after an attacker exploited its bridge, causing losses estimated at about $1.7 million.
- Security firm BlockSec identified the root cause as an exposed Raiko SGX enclave signing key left publicly accessible on GitHub, allowing the attacker to sign fraudulent proofs that Ethereum accepted as genuine.
- The attacker used forged proofs to register fraudulent withdrawals from the bridge and ERC20 vault, with PeckShield noting about 1.99 million TAIKO tokens worth around $189,000 moved to MEXC.
- According to DeFiLlama, this exploit is the latest in at least 23 crypto protocol exploits this month, contributing to a year where bridge attacks have produced more than $340 million in total losses.
- Recent exploits include a $4.67 million theft from the Secret Network on Friday and a $1.1 million drain from a PancakeSwap liquidity pool on Saturday, revealing persistent vulnerabilities in DeFi mechanisms.
18 Articles
18 Articles
Taiko urged users to withdraw all assets after $1.7 million
🚨 Taiko called for users to pull their assets after a $1.7 million breach hit the network's bridges. 💥 The exploit was linked to a publicly accessible SGX enclave key, letting attackers bypass verification. 🧐 Security gaps in bridge protocols highlight growing risks for funds...
Ethereum Layer 2 Taiko Halts Network After $1.7M Exploit, Token Falls 11%
Key highlights:Taiko suspended block production after a bridge exploit resulted in lossesThe TAIKO token fell more than 10% following the exploitThe exploit comes amid a record-breaking quarter for crypto hacksTaiko, an Ethereum layer-2 network, has temporarily stopped block production after it suffered a bridge exploit. The hackers were reported to have stolen around $1.7 million in assets.As a result, the Taiko token crashed sharply as traders…
Taiko Verification Mechanism Compromised: Users Told To Pull Funds From Bridges Immediately After $1M+ Exploit
A critical flaw in Taiko’s chain state verification mechanism has demolished the security guarantees for every bridge deployed on the network. The project confirmed the compromise in a stark security notice, admitting that the core assumptions underpinning its bridges can no longer be trusted. Users were told to pull funds without delay, and centralized exchanges were asked to freeze TAIKO deposits until further notice. According to the security…
Taiko's $1.7 Million Hack Shuts Down Block Production on Ethereum Layer 2
Taiko is down. The Ethereum layer 2 network halted block production after hackers drained roughly $1.7 million from its system,… Read the original on Taiko’s $1.7 Million Hack Shuts Down Block Production on Ethereum Layer 2. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
