Allbridge Core Halted After $1.1 Million Stablecoin Heist on Solana

Allbridge Core, a cross-chain liquidity protocol, has paused its operations after suffering an exploit that drained over $1.1 million in USDC from its stablecoin pool on Solana.

The attacker used a $1.12 million USDC flash loan from Kamino to manipulate the pool's ratios and create an arbitrage window for some traders. The attacker then withdrew liquidity at inflated values, extracting roughly $1.1 million before repaying the flash loan within the same transaction.

Allbridge has opened an investigation into the incident and is seeking the return of funds from traders who profited from the imbalance. In a post on social media, the team asked affected traders to consider returning their gains to compensate the liquidity providers.

This latest attack follows another flash loan exploit that targeted Allbridge in April 2023, resulting in losses of approximately $570,000. The incident adds to a growing number of attacks targeting crypto protocols, with exploits resulting in $57.8 million in losses in July 2026.