Allbridge suffered a cross-chain exploit this week, losing roughly $1.65 million. The attacker bridged the stolen funds from Solana to Ethereum and swapped them into ETH.
How the attack worked
The exploit targeted Allbridge's cross-chain infrastructure. The attacker moved assets out of Solana and onto Ethereum, then converted them to Ether. The exact method hasn't been disclosed, but the bridge's liquidity pool took the hit.
The $350,000 gap
Initial reports pegged the loss at $2 million. The project's own post-mortem puts the figure closer to $1.65 million. That's a meaningful difference — roughly 17.5% — and it's not clear yet whether the discrepancy comes from recovered funds, mispriced tokens, or something else.
What the attacker did next
After the swap, the attacker held a pile of ETH. On-chain data shows the funds haven't moved since the initial conversion. Whether they'll try to launder through a mixer or just sit on the Ether is the open question.
Allbridge hasn't announced a timeline for a fix or a recovery plan. Users are waiting to see if the team will reimburse affected liquidity providers. The exploit is a reminder that cross-chain bridges remain a fragile link in the ecosystem — and that a single vulnerability can drain millions in minutes.
