Oraichain Halts Network After Cross-Chain EVM Flaw Enables Unauthorized ORAI Minting
AI Market Summary
Oraichain paused its network after unauthorized ORAI minting via an EVM cross-chain transfer vulnerability, restricting the bridge, pathways, and public interfaces. The team says the exploit path is patched and is coordinating with partners and CEXs to limit fund movements while investigations continue. Planned burn and state reconciliation aim to restore standard supply, but near-term confidence, liquidity, and bridge risk premia are likely elevated.
Impact level
● High
AI InsightAI Insight
▼ Bearish
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Oraichain said an incident reported yesterday was caused by a vulnerability in its EVM cross-chain transfer route, allowing unauthorized ORAI minting, according to Mars Finance. The network has been suspended since 04:00 UTC on Aug. 9, with access to the bridge contract, cross-chain routes, and public interfaces restricted. The team said the affected pathway has been identified and fixed, and related fund-transfer routes have been limited. Oraichain is working with partners and centralized exchanges to curb further fund movements and safeguard impacted assets. The investigation and account reconciliation are ongoing. The team is preparing to restore ORAI's normal supply by burning the illegally minted balances and reconciling and repairing the affected protocol states.
