BNB Chain has identified the hacker who stole $570,000 from the cross-chain bridge Allbridge.
BNB Chain has identified the Allbridge attacker following on-chain analysis. We are actively supporting the Allbridge team on the fund recovery. The Allbridge team has offered the hacker a bounty.
We’d like to recognize the effort of AvengerDAO in this recovery effort.
— BNB Chain (@BNBCHAIN) April 2, 2023
«BNB Chain identified the Allbridge hacker using on-chain analysis. We are actively supporting the Allbridge team in recovering the funds. The Allbridge team has offered the hacker a bounty», — the statement reads.
AvengerDAO contributed to the investigation.
Allbridge said it was working with law enforcement, law firms, partners and the community to track the attacker. The attacker was offered to contact the cross-chain-bridge team to discuss a reward in exchange for returning the funds.
To hacker’s attention: addressing the incident and the next steps
1. We continue monitoring the wallets, transactions, and linked CEX accounts of individuals involved in the hack.
— Allbridge (@Allbridge_io) April 2, 2023
As noted on April 2, Allbridge lost digital assets worth about $570 000 as a result of the hacker attack. An unknown actor manipulated the swap price to drain tokens from the pool on the BNB Chain.
Allbridge developers paused the bridge during the investigation and launched a web interface that allows liquidity providers to withdraw assets. The company is preparing a compensation-claim form for those harmed.