Chainflip Network Hit by $73,644 Tron USDT Heist via Exploit

A recent exploit affected Tron USDT on the Chainflip network, resulting in approximately $73,644.22 being stolen.

The attackers exploited a vulnerability in Chainflip's processing of Tron USDT transactions by adding their own memo to already signed transactions. The memo was read as a new swap instruction and processed as such, causing duplicate withdrawals.

The theft occurred over the course of about 90 minutes during which time the attackers attempted the exploit eight times, starting with small amounts before increasing the withdrawal amount each time.

The Chainflip development team detected the anomaly when subsequent USDT withdrawals began to fail and have since implemented a fix. The network remains paused while the restart plan is finalized.