$11.5M Heist Hits Verus-Ethereum Bridge in Cryptocurrency Hack

A major cryptocurrency bridge, the Verus-Ethereum Bridge, has fallen victim to a significant hack. According to reports, the attacker exploited a vulnerability to steal approximately $11.5 million from the bridge.

The stolen funds were then converted to Ethereum, with the attacker swapping them for 5,402 units of the cryptocurrency. This move is likely intended to make it easier to manage and transfer the assets.

Security experts estimate that during the exploit, the attacker withdrew around 103.6 tBTC, 1,625 ETH, and nearly 147,000 USDC. The Verus team has yet to provide a detailed explanation of how the breach occurred.