DOT Plunges 7% in Minutes as Hackers Exploit Polkadot Bridge to Mint 1 Billion Tokens

Polkadot’s native token plunged by over 7% in minutes after reports emerged that a hacker minted a billion tokens on the Ethereum mainnet and sold them off.

The asset traded at $1.24 before it plunged immediately to $1.15, but managed to recover some ground and now trades around $1.20.

Arkham reported that an unknown attacker minted one billion DOT on Ethereum and sold them straight into the liquidity pool. Thus, they removed over $240,000 in ETH across multiple transactions.

Lookonchain confirmed the exploit and the attacker’s profit, which was $237,000 (108.2 ETH).

Wu Blockchain cited data from Certik, which blamed the attack on a vulnerability in the Hyperbridge gateway, which allowed the bad actors to forge messages and manipulate the administrator of a Polkadot token contract on Ethereum.

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