Versus-Ethereum Bridge Exploited: Analyzing Chain of Events

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Early exploit detection Not their first rodeo Advertisement This week, there was a significant vulnerability in the Verus-Ethereum Bridge , with hackers stealing about $11.58 million in digital assets. As suspicious transactions transferred significant amounts of cryptocurrency from the bridge into wallets controlled by attackers, blockchain security companies promptly sounded the alarm. Early exploit detection The attack was discovered by Blockaid's exploit detection system while it was still active, according to the security firm. The company claims that the hacker was able to take several assets out of the bridge and exchange them for Ethereum. ETH/USDT Chart by TradingView Later, PeckShield, a blockchain monitoring account, released a breakdown of the pilfered money. 103.6 tBTC, 1625 ETH, and approximately 147,000 USDC were reportedly taken from the bridge by the attacker. Following the theft, the assets were exchanged for roughly 5402.4 ETH, which, at the time of reporting, was worth roughly $11.4 million. The wallet with the address 0x65Cb…25F9 currently contains the pilfered ETH . HOT Stories Bitcoin Crash Wipes Out $660 Million XRP Volatility Ahead, Dogecoin (DOGE) Uptrend Continues, Is Toncoin (TON) Capable of Holding $2? Crypto Market Review Not their first rodeo Additionally, analysts found that about 14 hours prior to the exploit, the attacker's address had been funded with 1 ETH via Tornado Cash. Transaction trails are frequently obscured by Tornado Cash, making it more difficult to determine the source of funds. Advertisement You Might Also Like Sun, 05/17/2026 - 13:58 XRP Upgrade Nears Rollout With Critical Fixes Across Several Features By Tomiwabold Olajide One of the cryptocurrency industry's most vulnerable components is still cross-chain bridges. Although these platforms enable users to transfer assets between different blockchains, security flaws are frequently caused by their intricate smart contract structures. Bridge hacks have cost the market billions of dollars in losses over the last few years. It's still unknown exactly how the Verus-Ethereum Bridge was compromised . The exploit vector, and whether the vulnerability originated from validator systems, smart contract logic, or another flaw in the protocol, are still being looked into by developers and security researchers. Advertisement As attackers continue to target infrastructure that contains substantial amounts of liquidity, the incident contributes to the growing concerns regarding bridge security. Verus-Ethereum Bridge users will probably wait for more information from the project team about potential reimbursements, recovery efforts, and upcoming security measures. #Ethereum #DeFi News