CertiK, a blockchain security platform, has discovered a serious exploit on the Alex protocol bridge, which has led to suspicious withdrawals worth $4.3 million. The violation happened right after the protocol’s contract was upgraded for the first time.
After the upgrade, the address of the bridge endpoint contract was changed to an unverified bytecode, making it unreadable to humans. Subsequently, approximately $4.3 million worth of assets, comprising Binance-Pegged Bitcoin, USD Coin, and Sugar Kingdom Odyssey tokens, were withdrawn from the BNB Smart Chain side of the bridge.
The Alex team has not yet said anything about the exploit, so they can hardly be blamed for it. At the same time, the security research team of CertiK has been persistently keeping an eye on and fixing the vulnerabilities present in various protocols.
Besides, other blockchain projects, such as Equalizer and Wormhole, have also encountered probable exploits in the latest days, thus, underscoring the continuous struggle in decentralized systems security.
Also Read: CertiK Detects and Resolves $5 Million Wormhole Bridge Flaw
