Key Takeaways:
- The attacker successfully exploited a weakness in the cross-chain validation process and stole approximately $11.58 million from Verus’ ETH bridge.
- According to the hacker, the transaction fees for VRSC were close to $10, and drained 1,625 ETH, 103 tBTC and 147,000 USDC.
- According to the security firms, the exploit is similar to the Wormhole bridge and the Nomad bridge hacks, which were made in the same manner.
Cross-chain bridge security has again been thrust into the spotlight after a new DeFi attack which resulted in the loss of over $11 million from Verus-Ethereum bridge. According to the firms involved in the incident, it was not a result of stolen keys or broken signatures, but rather an economic value invalidation flaw that was present at the critical stage of the bridge’s economic value cross-chain validation process.
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