Blockchain Security
Ongoing coverage on Blockchain Security.
Latest coverage
WBTC’s $7.7B move: BitGo drops LayerZero, makes Chainlink CCIP its sole bridge
BitGo is migrating over $7.7 billion of Wrapped Bitcoin (WBTC) to Chainlink's Cross-Chain Interoperability Protocol (CCIP), designating it as its sole cross-chain infrastructure provider. This move signifies a departure from LayerZero, the previous provider, and follows a significant exploit of a LayerZero bridge in April. BitGo cited institutional security requirements as the primary reason for choosing CCIP.
WEMIX hit by stablecoin exploit as attacker cashes out $724,198
Wemade's WEMIX ecosystem experienced a significant security breach where an attacker exploited the WEMIX$ stablecoin contract, minting over 5 million tokens without authorization. The attacker converted approximately $724,198 worth of these tokens into USDC.e and WEMIX, transferring the funds across Ethereum and BNB Chain to exchanges. Wemade halted trading and services pending an investigation, with the incident occurring during a company ownership transition.
