Verus bridge hacked again for $7.54M as an old bug class keeps draining crypto

An attacker managed to steal approximately $7.54 million from the Verus Ethereum bridge on Thursday. This is the second time within about two months that an exploit was carried out successfully using this bridge. It seems that the vulnerability that was discovered earlier this year was never completely fixed. This shows how some known vulnerabilities continue to threaten cross-chain systems.

Cross-chain bridges allow users to lock assets on one blockchain and consequently issue equivalent tokens on another blockchain. However, most bridges contain extremely large shared liquidity pools. Therefore, just one small mistake by validators can cause losses worth millions of dollars. According to the blockchain cybersecurity company Blockaid, the same thing appears to have occurred in the Verus attack, with the same type of bug affecting some of the largest crypto bridge hacks since 2022.

A repeat hit on the same contract

According to Blockaid, the assailant exploited the mechanism for imports of the bridge in order to activate Ethereum-related payouts that didn’t correspond to actual values on the Verus blockchain. The hacker was able to steal assets including ETH, tBTC, USDC, USDT, EURC, MKR, and scrvUSD, with total losses that reached about $7.54 million in value terms.

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