Now Reading: XRP Bridge Loses $200,000 After Bug Allows Fake Deposits
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XRP Bridge Loses $200,000 After Bug Allows Fake Deposits
The Story in Brief
The Story in Brief
An XRP bridge connecting the XRP Ledger with the tx blockchain lost over 196,000 XRP, roughly Rs. 1.9 crore, after a software bug let an attacker create fake deposits. The exploit drained the bridge’s reserve wallet within 97 minutes on August 9 before the operator shut the service down. According to gadgets360.com, the operator has patched the affected code, hired blockchain forensics experts, and reported the incident to the FBI.
The Indian Opinion
This is a technical failure, not a crypto collapse. The bug was patched in hours, forensics engaged, and the FBI notified. That is a far cry from the 'wild west' narrative that paints every blockchain exploit as an unregulated free-for-all. The real test will be whether the FBI brings charges and whether the stolen funds can be traced on-chain. A single stolen wallet does not indict an entire technology.
Source: gadgets360.com
This story was synthesised by AI from the source linked above. Methodology and corrections.
Ashin Xavier: interesting
IO Repro: Repro test v4 after fix 2 Oct. Safe to trash.
IO Repro: Repro test v3 after fix 2 Oct. Safe to trash.
IO Repro: Repro test after fix 2 Oct. Safe to trash.