Map Protocol's MAPO Token Plummets After Cross-Chain Bridge Hack

The recent security breach affecting Map Protocol's cross-chain bridge has led to a substantial price decline of 96% for its native token, MAPO.

According to reports, the attack was made possible due to a bug in the Solidity smart contract used by the Butter Network. The hacker took advantage of this flaw and issued a quadrillion new coins, severely impacting market values.

The price of MAPO plummeted from its initial value to $0.00009 within hours but has since recovered to approximately $0.002. However, concerns remain regarding the significant amount of tokens still held by the hacker in their wallet, posing a potential threat to liquidity on other exchanges.