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Approximately $1.1 million Was Stolen in an Attack on Allbridge Core on Solana
Svmuu News: According to Onchain Lens, Allbridge Core was attacked on Solana. The attacker borrowed $1.12 million in USDC via a Kamino flash loan, then quickly exchanged USDC for USDT, distorting the ratio of the Allbridge stablecoin pool, and withdrew liquidity at the manipulated exchange rate. In the same transaction, the attacker repaid the flash loan and withdrew approximately $1.1 million. The funds were subsequently laundered through a privacy protocol. Allbridge’s largest single withdrawal was $2.24 million in USDC; further analysis of the exploit and the affected pools is still underway.
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