Verus Ethereum Bridge Hit in Exploit, About $11.5M Moved Into ETH

Verus' Ethereum bridge has reportedly been exploited, with losses estimated at about $11.5 million, according to blockchain monitoring accounts. Lookonchain said the attacker drained multiple assets from the bridge—including tokenized Bitcoin (tBTC), Ether and USDC—and then converted the proceeds into roughly 5,402 ETH, worth about $11.5 million. One wallet address is being tracked in connection with the incident. Security analysts cited by Blockchain estimates indicate the withdrawals totaled around 103.6 tBTC, 1,625 ETH and nearly 147,000 USDC. The Verus Ethereum Bridge is designed to link the Verus blockchain ecosystem with Ethereum. Cross-chain bridges remain a frequent target for attackers because they concentrate liquidity and enable asset transfers across networks. The Verus team has not yet released a detailed technical account of how the exploit occurred. The breach lands amid broader weakness in crypto markets. Analysts noted ETH had already been testing key support levels with bearish sentiment. Bitcoin briefly fell below $77,000—its first dip under that mark since early May—as selling pressure picked up. More than $550 million in long positions were liquidated as traders reacted to the downturn. Security incidents like this typically weigh on near-term sentiment, highlighting ongoing risks for DeFi platforms and bridging infrastructure. Market participants are watching for further details on the root cause and whether any of the funds can be recovered.