The developers of the Synapse Bridge cross-chain protocol prevented the hacker from withdrawing ~$8 million from the Avalanche Neutral Dollar (nUSD) metapool. The incident, which the team told about in the Discord chat, occurred on November 7
Synapse is a cross—chain bridge for moving tokens between several protocols of the first and second levels using AMM.
According to the developers, the attacker tried to exploit the vulnerability using a bridge to transfer assets from Polygon (MATIC) to Avalanche (AVAX). The team managed to identify an error in the AMM metapool Saddle contracts.
“The validators have agreed to go offline to suspend the network,” the team added.
The transaction for about $8 million was rejected. The funds will be returned to the affected liquidity providers after the completion of a full audit.
What are cross-chain bridges?
Earlier, the developers of the bZx DeFi platform acknowledged the loss of funds as a result of hacking. Preliminary damage was estimated at $55 million.
Recall that in the third quarter of 2021, hackers targeting the blockchain industry stole cryptocurrencies worth more than $ 1.1 billion. The Ethereum ecosystem suffered the most — during the analyzed period it lost more than $800 million as a result of 20 attacks.