XRP Bridge Hacked for 200K as Logic Flaw Exposes New Risk

A recent exploit in the Coreum-XRPL bridge drained 200,000 XRP in just 97 minutes. The attack occurred due to a logic flaw in the relayer's verification process, which relied on transaction memo data instead of properly verifying the destination address.

This vulnerability allowed an attacker to make 94 payments in rapid succession, tricking the bridge into releasing genuine XRP without compromising any users' wallets or the underlying XRP Ledger. The XRP Ledger itself remained secure throughout the incident.

The Coreum bridge has been halted pending further investigation and analysis of the exploit. This case highlights the risks of bridge exploits, which can be particularly damaging due to their added layer of infrastructure between blockchain networks.