Taiko halts its Ethereum layer 2 network after a bridge exploit, token dives 10%
An attacker forged withdrawal proofs to drain about $1.7 million, the same flaw class behind this year’s biggest bridge hacks. Fast containment kept the damage small.
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Summary
- Taiko, an Ethereum Layer 2 network, halted block production and urged users to withdraw funds after an attacker exploited its bridge to steal about $1.7 million.
- The attacker forged cross-chain proofs so that fake withdrawal requests were accepted on Ethereum without matching deposits on Taiko, draining the bridge and its token vault before the team froze activity.
- While the dollar loss was relatively small, the exploit used the same cross-chain messaging flaw behind more than $340 million in bridge hacks this year, and Taiko said it will release a full incident report on Monday in Asian hours.
