Polkadot’s DOT token experienced a sharp price drop following reports of a major exploit. An attacker allegedly minted a billion DOT tokens on the Ethereum network and sold them, extracting over $240,000. The price fell over 7% from $1.24 to $1.15 before partially recovering. Blockchain analysts confirmed the incident, attributing it to a gateway vulnerability.
Reports indicate a significant exploit targeting the cross-chain representation of Polkadot’s DOT token. An unknown attacker reportedly minted one billion DOT tokens on the Ethereum mainnet and sold them directly into liquidity pools.
This activity caused the token’s price to plunge by over 7% in minutes. It fell from $1.24 to $1.15 before recovering to trade near $1.20.
Arkham reported the attacker removed over $240,000 in Ethereum (ETH) across multiple transactions. Lookonchain confirmed the profit figure at approximately $237,000, which was 108.2 ETH.
Data from Certik cited by Wu Blockchain blames the attack on a vulnerability in the Hyperbridge gateway. This flaw allegedly allowed bad actors to forge messages and manipulate the administrator of a Polkadot token contract on Ethereum.
Just In: Hackers minted 1 billion DOT tokens on the Ethereum mainnet and then sold them off. Wu Blockchain shared this information in a post. According to Certik, the attack was primarily due to a Hyperbridge gateway vulnerability, which allowed attackers to forge messages and manipulate the administrator of a Polkadot token…
