Allbridge suspends operations after $1.65M flash loan attack

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Cross-chain protocol Allbridge has halted its operations following a flash loan exploit that resulted in losses of approximately $1.65 million. The attacker borrowed $1.12 million via Kamino, a decentralized lending platform, to execute the scheme. By using the flash loan, the exploiter manipulated the liquidity pool ratios within the Allbridge protocol. This manipulation allowed the attacker to withdraw assets at artificially favorable rates before moving the funds across chains.

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