$4.4 Million Stolen From Crypto Firm: Multi-Bridge Exploited
Meter, a blockchain infrastructure company that provides multi-chain bridging and allows users to trade multiple cryptocurrencies across Ethereum and other public chains, has been exploited for around $4.4 million, the company acknowledged via Twitter. The hack also affected the Moonriver network.
"Around 6am Pacific time we identified someone was able to leverage a vulnerability of the bridge to mint a large amount of BNB and WETH tokens and depleted the bridge reserve for BNB on WETH," the decentralized finance (DeFi) infrastructure provider tweeted on Saturday.
The highly decentralized DeFi space has a built-in, crypto-native, metastable currency - MTR. Meter uses HotStuff-based PoS consensus with MTRG - Meter Governance Token - to manage the blockchain ledger. Meter functions as a highly decentralized, high-performance side chain for Ethereum and other public chains, according to the company's website. This is the third attack this month following the strike on the Wormhole network, a token bridge that allows users to trade multiple cryptocurrencies across the Ethereum and Solana blockchains, which were exploited for 120,000 ETH tokens ($321 million), and an attack at Qubit Finance, which runs on the Binance Smart Chain and was hacked for more than $80 million.
