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Guavy AI Editorial Team••Sentiment: -3•Clout: 72

Allbridge Hit with $1.65M Flash Loan Attack on USDC/USDT Pool

USDTUSDC

An exploit on Allbridge has drained $1.65 million from its USDC/USDT pool, highlighting ongoing security concerns in the DeFi space.

The incident involved a flash loan attack, where an attacker borrowed funds to manipulate prices and gain unauthorized access to the pool's assets.

Allbridge is a cross-chain liquidity network that enables users to transfer assets between different blockchain platforms.