XRP bridge drained for $200,000 after software mistook fake deposits for real ones

TechXRP bridge drained for $200,000 after software mistook fake deposits for real onesAn attacker created unbacked XRP on another blockchain, then exchanged it for real XRP held in reserve. The bridge has been halted and its operator has filed a complaint with the FBI.By Shaurya Malwa2 hrs ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowNearly 200,000 XRP, worth about $200,000, were drained from a bridge linking the XRP Ledger to the tx blockchain after an attacker exploited a software flaw.The bug let the bridge register non-existent deposits as real, issuing unbacked bridged XRP that the attacker then used to withdraw genuine XRP from the reserve wallet.Tx says it has halted the bridge, patched the vulnerability, hired blockchain forensics experts and filed an FBI complaint, but has not yet explained how affected holders will be compensated.An XRP bridge lost nearly 200,000 XRP, worth about $200,000 at current prices, after a software flaw let an attacker claim deposits that were never made, then withdraw real tokens against the fake balances.The bridge connected the XRP Ledger to Coreum, a separate blockchain which rebranded this March as tx, a U.S.-based outfit focused on tokenizing real-world assets. The tokens XRP left the bridge's reserve wallet in 97 minutes on Aug. 9 before the system was halted.A bridge is supposed to work like a vault with a receipt system. A user sends XRP into a reserve wallet on the XRP Ledger, and the bridge creates an equivalent amount of bridged XRP on the other chain. Returning those tokens lets the user withdraw the real XRP held in the reserve.The attacker found a way to make that system issue the receipts without putting anything into the vault.According to tx, the bridge's software registered transactions as deposits even though they never delivered XRP to the bridge. That gave the attacker bridged XRP on the tx chain without the real XRP that …

XRP bridge drained for $200,000 after software mistook fake deposits for real ones

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