What is a cross-Chain Bridge hack?

A successful cross-chain bridge hack typically ends up with tokens being minted on one blockchain without a corresponding deposit on the other. There are three types of exploits to achieve this: During the bridging process, each deposit has to be validated before allowing a transfer to go through.

Why are cross-chain projects so vulnerable to hackers?

Faced with huge temptations, hackers are bound to find ways to attack. In addition, because cross-chain projects are not only smart contracts on the chain but also code with off chain, no matter which part of the project has a problem, it will be exploited by hackers.

What are cross-chain bridges and how do they work?

If someone wants to transfer cryptocurrency, non-fungible tokens (NFTs), or other digital assets between blockchain networks, cross-chain bridges are an essential part of the process. While most digital assets are tied to a specific blockchain, cross-chain bridges enable inter-network transactions powering a much broader digital ecosystem.

Are cross-chain bridges safe?

And although cross-chain bridges are useful, they pose several risks if improperly designed. Both users and developers must evaluate the security guarantees of any bridge before using it. Are you a budding blockchain developer or crypto-curious individual?