XRP Bridge Exploit Drains $200K in 97 Minutes

TLDR

• The XRP bridge linking the XRP Ledger and tx lost nearly 200,000 XRP, worth about $200,000.
• The attacker exploited a software flaw that allowed fake XRP deposits to be recorded without sending funds to the reserve wallet.
• The exploit lasted about 97 minutes on August 9 before the bridge was halted.
• 17 of 28 relayers approved the withdrawals because the bridge incorrectly recorded the deposits as valid.
• tx said it has fixed the vulnerable code, hired blockchain forensic specialists, and filed a complaint with the FBI’s Internet Crime Complaint Center.

An XRP bridge linking the XRP Ledger with tx lost nearly 200,000 XRP after an attacker exploited a software flaw. The stolen tokens were worth about $200,000 at current prices, according to project disclosures.

The attack happened on August 9 and lasted about 97 minutes before operators halted the bridge. The bridge connected XRP Ledger users with Coreum, which rebranded as tx in March.

XRP Bridge Flaw Created Fake Deposits

The attacker found a way to make the bridge record XRP deposits that never reached its reserve wallet. The system then issued bridged XRP on the tx network against those false records.

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