Allbridge Core Suspended Following $1.65 Million Solana Exploit

The security breach centers on the manipulation of the protocol’s USDC/USDT liquidity pool. According to data from Onchain Lens, the attacker leveraged a $1.12 million USDC flash loan secured through Kamino to execute a series of rapid swaps. By artificially distorting the stablecoin pool's balance, the perpetrator was able to withdraw liquidity at skewed rates before repaying the initial loan within a single transaction.

Allbridge confirmed the incident in a public notice, acknowledging that the resulting pool imbalance created an arbitrage window for some traders. The team has requested that any users who inadvertently profited from the pricing discrepancy return the funds to a designated recovery address to assist in compensating affected liquidity providers. While the protocol remains offline, no reopening date has been set. This marks the second major security failure for the project, which previously lost $573,000 during a similar price-manipulation attack on the BNB Chain in April 2023.