Apr 2024 - XBridge Suspicious Transactions - $1.011m (Global)

"Step into the world of cutting-edge innovation!" "Saitama is proud to introduce you to the next generation of blockchain technology- XBridge."

"Unlock the limitless power of blockchain and reshape your trading and investment game like never before"

"Make the smoothest transfers possible at lower premium transaction costs, across multiple blockchains!"

"The cross-chain bridge X Bridge has experienced multiple suspicious transactions, which are still ongoing. A suspicious address was recently funded by Tornado Cash on BNBChain, then bridged to ETH, and subsequently deposited 0.15 ETH into 'OwnedUpgradeabilityProxy.' Shortly after, a withdrawal of 482M STC totaling $824K was made from your 'OwnedUpgradeabilityProxy' contract."

Further Analysis

XBridge is an innovative cross-chain bridging platform with very catchy marketing videos. On April 24th, coincident with Twitter promotions, the protocol suffered an exploit which drained over $1m worth of value. The website appears to have subsequently displayed a maintenance page. There don't appear to be any updates showing up on Twitter.

How Could This Have Been Prevented?

More Cryptocurrency Exchange Hacks/Scams/Frauds

Merlin Chain Discord Hack > > < < YIEDL Smart Contract Redeem Vulnerability

Sources/Further Reading

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@QuadrigaInit

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