Allbridge Core paused its protocol after an attacker exploited its USDC/USDT stablecoin liquidity pools on Solana, draining over $1.1 million using a $1.12 million USDC flash loan from Kamino. The attacker manipulated pool ratios through rapid swaps, withdrew inflated liquidity, and repaid the loan within the same transaction. The stolen funds were routed through privacy protocols to hide their trail. Allbridge is investigating the incident and has asked traders who profited from the imbalance to return funds to compensate affected liquidity providers. This follows a similar flash loan exploit on Allbridge in April 2023 that caused $570,000 in losses.
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