"A hacker exploited a vulnerability within the Hyperbridge gateway smart contract, using a fabricated message to gain administrative privileges over the bridged DOT contract on Ethereum, triggering a transaction that generated 1 billion unauthorized tokens."
"Following the incident, the price of DOT briefly plunged from $1.23 to $1.16, a decline of nearly 6%, but later recovered to $1.19."
"Despite the large number of tokens created, the attacker was unable to cash out at market value due to shallow liquidity of the bridged DOT on Ethereum."
On April 13, Certik reported a significant exploit of the Hyperbridge gateway, where a hacker minted 1 billion unauthorized Polkadot tokens on Ethereum. The price of DOT dropped nearly 6% to $1.16 before recovering slightly. The attacker exploited a vulnerability in the Hyperbridge smart contract, using a fabricated message to gain administrative privileges. Although the hacker managed to liquidate the tokens for approximately $237,000 in ether, shallow liquidity limited the financial impact of the exploit.
Read at news.bitcoin.com
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