Polkadot Bridged Token Exploited on Ethereum

[etfs]

Polkadot faced a security incident after its bridged DOT token on Ethereum was exploited. An attacker reportedly minted 1 billion tokens and immediately dumped them, causing the price to crash from around $1.22 to near zero within minutes.

Onchain data shared by Lookonchain shows the attacker converted the tokens into approximately 108 ETH, worth around $237,000. While the exploit caused disruption, it was limited to the bridged version of DOT and did not impact the main Polkadot network.

[cryptohog]

minting a billion tokens like it’s nothing

[Patapim]

Crazy how fast things can break.

[BrutalAge*gofast]

This is why bridges are risky

[The_Walking_Dead]

Not the main chain but still scary.

[Capybara_Capybara]

Not surprised at all.

[bred]

Another day another exploit.

[UndeadBeastMonkeykiller]

Feels like we never learn.

[febe3f2e35]

Security still the biggest issue

[0c4535c1a0]

Damage was limited but still bad.

[059d96d16a]

Imagine waking up to that chart.

[d82ae58262]

This is why I avoid wrapped tokens.

[9777089235]

Wild how quick they dumped it.

[Suzukispeedtest]

Early tech comes with these problems.

[GummyBear]

At least core network is safe.

[ChewBeast]

Stay safe out there