Category: bridge exploit

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Gamma Heist — Over $3M in Digital Assets Drained, 1,000 ETH Moved to Tornado Cash

January 6, 2024

On Jan. 4, the decentralized finance protocol Gamma Strategies was a victim of a hacking attack which saw criminals make off with digital assets worth over $3 million. To pre-empt further attacks, Gamma Strategies said it has shut off all deposits on any of its “public-facing vaults.” Hacker Transfers 1,000 Ethereum to Crypto Tumbler Tornado…
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Integrating Decentralized Cross-Chain Communication Makes Bridges ‘Substantially Safer’ — Flare Networks CEO

January 2, 2023

Although they grabbed less media attention than the collapse of centralized organizations, the so-called bridge exploit incidents in 2022 again proved that the decentralized finance (defi) ecosystem still lacks sufficiently secure solutions, Hugo Philion, the co-founder and CEO of Flare Networks, has argued. Philion insists that the lack of such secure solutions has constrained the…
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