CoinDesk·3 min read·hard
XRP bridge drained for $200,000 after software mistook fake deposits for real ones
S
Shaurya Malwa
✦AI Summary
A bridge connecting the XRP Ledger to the tx blockchain was exploited for $200,000 due to a software flaw that misidentified fake deposits as legitimate. The attacker successfully drained the reserve wallet by tricking the system into issuing unbacked tokens.
The bridge connected the XRP Ledger to Coreum, a separate blockchain which rebranded this March as tx, a U.S.-based outfit focused on tokenizing real-world assets. The tokens XRP left the bridge's reserve wallet in 97 minutes on Aug. 9 before the system was halted.
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