Allbridge Core hit by Solana exploit, over $1.1M USDC siphoned
AI Market Summary
Allbridge Core on Solana was exploited via flash-loan-driven stablecoin pool rate manipulation, with over $1.1M USDC effectively extracted and later routed through privacy tooling. The incident highlights persistent AMM and cross-chain liquidity risks, potentially pressuring confidence and activity in Solana DeFi venues that rely on similar pool mechanics. Ongoing vulnerability analysis and the stated withdrawal cap frame further tail-risk until mitigations are clarified.
Impact level
● Medium
Affected assets
SOL/USDT+2.26%
AI Insight · SOL/USDTAI Insight
▼ Bearish
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Huo Xing Finance reported that OnchainLens monitoring on July 20 flagged an attack on cross-chain protocol Allbridge Core on Solana. The exploiter extracted more than $1.1 million by manipulating the exchange rate in the protocol's stablecoin pool.
According to the report, the attacker used a Kamino flash loan to borrow $1.12 million in USDC, then quickly swapped USDC into USDT to skew the pool's liquidity ratio. After forcing a favorable rate, the attacker withdrew liquidity and repaid the flash loan within the same transaction.
Roughly $1.1 million has since been moved out and routed through privacy protocols to obscure the trail. Allbridge Core's maximum single withdrawal limit is about $2.24 million in USDC. Analysis of the vulnerability remains ongoing.
