Allbridge Core Resumes Operations After $1.65M Security Incident
Allbridge Core Resumes Operations After $1.65M Security Incident
馃攧 Bridge back online
Allbridge Core has resumed operations following a security incident that resulted in $1.65M being withdrawn from liquidity pools.
Key changes:
- Core now operates without liquidity pools
- Transfers route through CCTP and LayerZero
- Eliminates the pool imbalance vulnerability that enabled the attack
- Allbridge Next continued operating normally throughout
Timeline ahead:
- In 3 months, both Allbridge Core and Classic will cease operations in their current form
- Users should withdraw liquidity before the transition
- Full migration to Allbridge Next infrastructure underway
The team has confirmed the bridge is safe to use and cross-chain transfers are functioning without interruption. A detailed incident report is forthcoming.
Official Statement from the Allbridge team We confirm that an attacker withdrew $1.65M from Allbridge Core's liquidity pools. The team is preparing a detailed breakdown and will publish a final report on what happened.
This incident accelerated a process we had already started: the full transition to Allbridge Next, our new and more secure infrastructure. In 3 months, Allbridge Core and Allbridge Classic will stop operating in their current form. Withdraw your liquidity ahead of time.
Allbridge Core is experiencing a security incident. We have paused the protocol as a precaution while we investigate. If you have liquidity in affected pools, please withdraw now. The resulting pool imbalance created a temporary positive arbitrage window. If you took advantage
There is no threat to users liquidity right now. Allbridge Next is operating normally. At the same time, we are already working on relaunching Core without liquidity pools. Transfers will go through CCTP and LayerZero routers, removing the pool imbalance risk and the model that
Allbridge Core is back up, running on CCTP and LayerZero for transfers, with no liquidity pools. The bridge is fully safe to use. Allbridge Next kept running normally throughout. Cross-chain transfers continue without interruption.
TON Blockchain Integrates with Allbridge Next for Cross-Chain Transfers
The Open Network (TON), Telegram's decentralized Layer 1 blockchain, has integrated with Allbridge Next, expanding cross-chain connectivity. **Key Features:** - Users can now transfer USDT and GRAM (TON's native token) between TON and other supported networks - Single-bridge solution eliminates the need for multiple steps - Simplifies cross-chain asset movement for TON ecosystem participants This integration builds on TON's recent infrastructure developments, including a Bitcoin bridge launched in 2024 for DeFi applications. The addition strengthens TON's interoperability within the broader blockchain ecosystem. [Try Allbridge Next](https://bit.ly/4w6AR9B)
Allbridge Releases November Report with Deposit Addresses and ABR0 Updates
Allbridge has published its November progress report highlighting several key developments. **Major Updates Include:** - New deposit addresses functionality - ABR0 reveal and implementation details - Achievement of new operational milestones The report covers progress across multiple areas of the platform's development. Users can access the full report and technical implementation details through the provided links. [Read the full November report](https://bit.ly/4rtCsol) [Explore implementation details](https://bit.ly/4rBaLdc)
Allbridge Core Launches Multi-Chain DAO Treasury Management with Automated Deposit Routing
**Allbridge Core** has introduced **Deposit Addresses** for DAO treasury management, allowing organizations to streamline multi-chain operations. **Key Features:** - Assign unique deposit addresses for each blockchain - **Automatic routing** of inflows to main treasury wallet - Eliminates manual wallet juggling and bridging - Supports stablecoins across multiple chains The solution addresses a common pain point for DAOs managing assets across different blockchains. Instead of monitoring multiple wallets, treasurers can now use a single system that consolidates all incoming funds. **Benefits for Organizations:** - Simplified treasury operations - Reduced operational overhead - Seamless cross-chain payment acceptance - Automated asset consolidation This builds on Allbridge Core's existing infrastructure for cross-chain stablecoin bridging between EVM and non-EVM networks. [Learn more about Deposit Addresses](https://bit.ly/4pmSKgJ)
Stablecoin Market Reaches New Heights at $233B
The stablecoin market has reached a significant milestone with total market capitalization hitting $233 billion. Key developments include: - USDT (Tether) maintains market leadership with 63% share - USDC shows strong growth, now controlling 25.7% of market - Regulatory adoption driving USDC's expansion - New entrant USDe (Ethena) joins top 5 with $6B+ in circulation This growth signals increasing mainstream adoption of digital assets and highlights stablecoins' crucial role in bridging traditional finance with crypto markets. The multi-stablecoin ecosystem continues to evolve, with different tokens serving various market needs.