Allbridge Core, a cross-chain bridge protocol, has paused operations after a security incident, according to ChainCatcher. The team said the event caused an imbalance in affected liquidity pools and created a temporary arbitrage opportunity. Users holding positions in the impacted liquidity pools were advised to withdraw funds immediately while the investigation is underway. The protocol also called on arbitrage traders to return the funds they extracted so the money can be used to compensate affected liquidity providers. Separately, blockchain monitoring account Onchain Lens said losses tied to the incident have exceeded $1.1 million. The protocol remains under investigation at the time of the report.
Allbridge Core, a cross-chain bridge protocol, has paused its protocol after a security incident, according to ChainCatcher.
The team said the incident caused an imbalance in affected liquidity pools and opened a temporary arbitrage window. It advised users holding positions in the impacted liquidity pools (LP) to withdraw funds immediately while the investigation continues.
Allbridge Core also called on arbitrage users to return the funds so they can be used to compensate affected liquidity providers. Separately, Onchain Lens said the losses have exceeded $1.1 million.
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