XRP Bridge Flaw Triggers Shocking $200K Token Loss

TL;DR

• Nearly 200,000 XRP worth about $200,000 were drained after bridge software accepted fake deposits and issued unbacked bridged XRP.
• The attacker redeemed those synthetic balances for genuine XRP, while 17 of 28 relayers approved payouts because internal records falsely showed legitimate deposits.
• Tx halted the bridge, patched the flaw, hired blockchain forensics specialists and filed an FBI complaint, but has not explained how affected holders will be compensated so far.

An XRP bridge linking the XRP Ledger with tx was drained of nearly 200,000 XRP, worth about $200,000, after software mistakenly accepted fake deposits as genuine. The attacker exploited the flaw to create unbacked bridged XRP and then exchanged those synthetic balances for real XRP held in the bridge’s reserve wallet. The unsettling part is that the bridge’s own records convinced its relayers that nothing was wrong. The incident unfolded over 97 minutes on August 9 before operators halted the system and began tracing where the stolen tokens moved throughout the reserve drain.

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