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 ORAI minting, restricting routing and public interfaces while coordinating with CEXs to freeze flows. Although a burn plan aims to restore supply integrity, the incident highlights ongoing bridge and crosschain risk, which can tighten liquidity, widen risk premia, and weigh on broader crypto sentiment in the near term.
Impact level
● Medium
Affected assets
BTC/USDT-1.39%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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ChainThink reported that Oraichain disclosed an incident on Aug. 11 involving unauthorized minting of ORAI tokens stemming from a vulnerability in its EVM cross-chain transfer route. Oraichain said the network has been paused since Aug. 9 at 12:00, with cross-chain routing and public interfaces restricted. The team stated it has identified and remediated the affected pathway and has tightened controls on routes that could facilitate fund movement. Oraichain is working with partners and centralized exchanges to curb additional transfers and help secure impacted funds. The investigation and reconciliation process remains ongoing. Oraichain said it plans to restore ORAI supply integrity by burning the unauthorized minted tokens and coordinating the protocol's state accordingly.
