Oraichain Pauses Network After Cross-Chain EVM Flaw Enables Unauthorized ORAI Minting
AI Market Summary
Oraichain halted its network after an EVM cross-chain pathway vulnerability enabled unauthorized ORAI minting, prompting bridge and interface restrictions and coordination with exchanges to limit fund flows. The incident raises immediate counterparty and settlement risk for ORAI and connected liquidity, with broader spillover risk to cross-chain and DeFi risk sentiment. Planned remediation includes burning illicit balances and reconciling protocol state before resuming normal operations.
Impact level
● High
Affected assets
BTC/USDT-1.51%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Oraichain said an incident disclosed yesterday was caused by a vulnerability in its EVM cross-chain transfer route, which resulted in unauthorized minting of ORAI. The network has been suspended since 04:00 UTC on Aug. 9, with the bridge contract, cross-chain routes and public interfaces placed under restrictions.
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.
Investigations and account reconciliation remain underway. The project added it is preparing to restore ORAI's normal supply by burning the illicitly minted balances and reconciling and repairing the affected protocol states.
