Bridge exploit mints 1B DOT on Ethereum, token sold off and price collapses

PeckShield said it detected abnormal activity involving DOT on Ethereum on April 13 (UTC+8), where 1 billion DOT tokens were minted and rapidly sold. On-chain data indicates the attacker seized compromised administrative privileges about an hour earlier, transferred contract control to a malicious address, then minted 1 billion DOT and dumped the tokens, sending the price from $1.22 to near zero. The situation remains developing and Polkadot's official team has not issued a statement. The attack affected bridge assets on Ethereum rather than Polkadot's native chain. (Source: ChainCatcher)