Allbridge, a cross-chain bridge protocol, has been exploited for approximately $1.65 million, according to blockchain security researchers at LookOnChain tracking the incident on X (formerly Twitter).
The exploit represents a significant security breach in the bridge's smart contract infrastructure, adding to a growing list of vulnerabilities affecting cross-chain protocols. The specific technical vector of the attack has not been disclosed in initial reports, though the funds were identified and traced through on-chain analysis conducted by LookOnChain.
The incident underscores persistent risks in the cross-chain bridge ecosystem, where billions of dollars in user assets flow through protocols designed to facilitate multi-chain transactions. Previous major bridge exploits, including attacks on Poly Network and Nomad, have resulted in substantially larger losses and renewed scrutiny of bridge security practices within the industry.