Vitalik sounded the alarm on cross chain bridges in January, here is the compiled list of bridge hacks since then…pure decimation
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Seems cross chain bridges have serious problems with security.
Back in January 7th 2022 Vitalik posted this warning: https://nitter.net/i/status/1479501366192132099
My argument for why the future will be multi-chain, but it will not be cross-chain: there are fundamental limits to the security of bridges
The Hacks So Far This Year
Only May didn’t register a hack. I’ve used the term hack but this is a generalisation of whatever attack vector was used to drain funds.
January 20th 2022 – Multichain bridge hacked for ~3 million
January 28th 2022 – Qubit Finance bridge hacked for ~80 Million
https://cointelegraph.com/news/qubit-finance-suffers-80-million-loss-following-hack
February 2nd 2022 – Wormhole bridge hacked for ~323 Million
February 8th 2022 – MeterIO bridge hacked for ~4.4 Million
https://cointelegraph.com/news/latest-defi-bridge-exploit-results-in-4-4m-losses-for-meter
March 30th 2022 – Ronin bridge hacked for ~650 Million
https://cointelegraph.com/news/the-aftermath-of-axie-infinity-s-650m-ronin-bridge-hack
April 7th 2022 – Wonderhero bridge hacked for ~300 Thousand
https://mpost.io/wonderhero-token-collapses-after-hack/
June 24th 2022 – Harmony One bridge hacked for ~100 Million
July 11th 2022 – ChainSwap bridge hacked for ~4.4 Million
https://decrypt.co/75698/chainswap-exploit-leads-to-multi-million-loss-for-defi-tokens
August 2nd 2022 – Nomad bridge hacked for ~200 Million
Be extremely cautious when using crypto bridges, as these losses are just terrible.
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