Svmuu News: The cross-chain protocol Allbridge issued an official statement stating that attackers have withdrawn approximately $1.65 million in assets from the Allbridge Core liquidity pool. The team is currently compiling a detailed analysis report on the incident and will release the full findings at a later date. The team emphasized that there are no further risks to users’ liquidity at this time, and the Allbridge Next service is operating normally.
In response to this incident, Allbridge plans to relaunch the Core version but will eliminate the liquidity pool design. Future cross-chain transfers will be facilitated through the Circle CCTP and the LayerZero router to eliminate the risk of liquidity pool imbalances and the model vulnerabilities exploited in this attack. This incident has accelerated the previously initiated migration plan—a full transition to the more secure new infrastructure, Allbridge Next.As planned, Allbridge Core and Allbridge Classic will cease operations in their current forms within the next three months, and users are advised to withdraw their liquidity in advance.
It is reported that this attack has exposed the risks of the traditional cross-chain liquidity pool model and has further driven the protocol’s transition toward a cross-chain architecture based on messaging and native asset transfers.