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After two projects were hacked last week, this Monday saw the first hacked project of the week, @Allbridge_io, with losses of approximately $1.1 million. The attacker borrowed 1.12 million USDC via a Kamino flash loan, quickly swapped USDC/USDT to manipulate the Allbridge stablecoin pool ratio, extracted liquidity at the manipulated exchange rate, and repaid the flash loan within the same transaction, profiting around $1.1 million. Following the hack, the official team called on arbitrage users to return the funds to compensate affected LP providers. In this market, small protocols without strong backing really shouldn’t be messed with. Getting hacked is an everyday occurrence—don’t risk your principal for a bit of profit.
