Bearish
XRP price drops below $1 after Coreum bridge hack drains 200,000 XRP
In the past 24 hours, XRP's price has fallen below $1 following a significant security breach in the Coreum bridge, which connects the XRP Ledger to the tx blockchain. An attacker exploited a software vulnerability, draining nearly 200,000 XRP from the bridge's reserve wallet. This incident has raised concerns about the security of cross-chain bridges and their impact on associated cryptocurrencies.
Key points
- Security Breach: An attacker exploited a software flaw in the Coreum bridge, draining nearly 200,000 XRP from the reserve wallet.
- Price Impact: Following the hack, XRP's price fell below $1, marking its lowest point since November 2024.
- Security Measures: The tx team has halted the bridge, patched the vulnerability, and filed a complaint with the FBI's Internet Crime Complaint Center.
Sources
AI-generated from public news sources. Not financial advice.
