tx Cross-Chain Bridge Hacked for $200,000 in XRP

U.S.-based RWA platform tx has broken its silence on the hack of its cross-chain bridge, which occurred on Aug. 9 and resulted in the loss of 200,000 XRP.

The attack lasted just 97 minutes and was not a result of compromised cryptographic keys, but rather an exploited flaw in the bridge's deposit verification logic.

According to tx, the hacker simulated deposits by transferring wrapped CORE tokens between addresses under their control and attaching text memos containing destination details for the Coreum network. Validators read the information from the memo, but because the code lacked a recipient verification mechanism, the system did not check whether the funds had actually been sent to the bridge's wallet.

The company has halted bridge operations while dealing with the consequences of the incident and has already fixed the verification bug. The team has also filed an official complaint with the FBI's Internet Crime Complaint Center (IC3) after tracing the stolen funds through a chain of intermediary addresses.