Taiko bridge exploit drains $1.7M in assets
The Taiko bridge has been exploited, resulting in the theft of at least $1 million in assets.
The root cause of the exploit appears to be a flaw in how the Taiko bridge validated source signals, allowing the attacker to register and retrieve fraudulent bridge messages.
The attack has already transferred 1.99 million Taiko tokens worth around $189,000 to MEXC. The exploiter’s wallets hold around $1.5 million, primarily in Ether.
This incident comes after a smart contract exploit on the Secret Network resulted in the theft of $4.67 million worth of assets, and $1.1 million was drained from the OLPC/LABUBU liquidity pool on PancakeSwap.