Oraichain Halts Network After EVM Cross-Chain Flaw Enables Unauthorized ORAI Minting
AI Market Summary
Oraichain paused its network after an EVM crosschain transfer vulnerability enabled unauthorized minting, restricting routing and public interfaces while coordinating with partners and centralized exchanges to contain flows. Although the team reports the bug is remediated and plans to burn illicitly minted tokens, the episode underscores persistent crosschain and bridge security risk. Near-term, this can weigh on smaller-cap DeFi/L1 risk appetite and crosschain usage.
Impact level
● Medium
Affected assets
BTC/USDT-1.57%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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AI Layer 1 project Oraichain said an earlier incident stemmed from a vulnerability in its EVM cross-chain transfer route, which led to unauthorized minting of ORAI, according to ME News. The network has been paused since Aug. 9 at 12:00 (UTC+8), with cross-chain routing and public interfaces restricted.
Oraichain said it has identified and fixed the issue, contained the movement of affected funds, and is working with partners and centralized exchanges to block further transfers and protect compromised assets. The team added that investigations and reconciliation efforts are ongoing, and it is preparing to restore ORAI supply by burning the improperly minted tokens and coordinating protocol state updates. (Source: Foresight News)
