Taiko.eth: Vulnerability Attack Risk Controlled, L1 Cross-Chain Bridge and ERC20 Vault Suspended

On June 22, Taiko.eth announced the latest developments regarding the security incident on platform X, stating that the risk of vulnerability attacks has been controlled. We have suspended the Ethereum Layer 1 cross-chain bridge and the ERC20 token vault, and all withdrawal functions through these two channels have been completely closed. The attacker exploited a vulnerability in the cross-chain bridge's message proof verification mechanism to launch the attack. In the absence of any real transaction events on the source chain, the Ethereum Layer 1 mainnet still recognized the forged message credentials, allowing the attacker to initiate fraudulent withdrawals and steal assets from the cross-chain bridge and token vault. Based on current estimates, the total losses from the theft could be as high as $1.7 million before we shut down the relevant contracts.