XRP Cross-Chain Bridge Hacked, $200,000 Stolen

A cross-chain bridge connecting the XRP Ledger to the tx blockchain was hacked on August 9, resulting in the theft of $200,000. The attacker exploited a flaw in the deposit processing logic, allowing them to issue 'wrapped' tokens on the tx network without actually transferring any funds. This enabled them to withdraw real coins from the reserve wallet.

The attack did not affect funds on the mainnet or on centralized and decentralized exchanges, according to the developers. However, nearly 200,000 XRP ($199,916) were transferred from the bridge address in 94 transactions over a period of 97 minutes.

Analysts noted that the attacker did not gain access to private keys, and the XRP Ledger itself operated without disruptions. The tx team halted the bridge, fixed the vulnerable code, and sent all transaction data to the FBI's Internet Crime Complaint Center. They are currently considering compensation options for affected users.