cross-chain

According to monitoring by Blockaid, a key leakage incident occurred on the cross-chain bridge of MILC Media Metaverse on BNB and Ethereum. The attacker exploited a historical bridge administrator wallet to grant administrator privileges to an EOA address they controlled, subsequently extracting MLT tokens from the bridge contract and transferring the administrator control of the cross-chain bridge to the attacker's wallet.Currently, the attacker has obtained approximately 97,003 USDT on BSC and transferred about 39.21 ETH on Ethereum through Rhino.fi, with total losses amounting to approximately $161,000.

Messari released the "TON Q1 2026 Report," which shows that despite a 26.4% drop in the price of TON during the quarter, the overall TON ecosystem remains resilient, supported by Telegram's large user base. Among them, revenue from Telegram products settled through Fragment decreased by 20.3% quarter-on-quarter to $88.5 million, while recurring revenues such as Premium subscriptions and advertising only fell by 10.5%, performing better than non-recurring businesses like Stars.Data shows that driven by the demand for on-chain products such as Telegram usernames, numbers, and Gifts, the market share of TON NFTs in the cross-chain market increased by 130.4% quarter-on-quarter, reaching 35.5%. In terms of DeFi, the total value locked (TVL) in USD terms decreased by 34.9% quarter-on-quarter, but in TON terms, it only fell by 11.6%. The average daily transfer amount of USDT dropped by 32.5% to $7.7 million, although the average daily number of transfers remained around 73,600, indicating that peer-to-peer Telegram transfers and Mini App payments are replacing large DeFi transactions.In terms of user activity, the number of daily active addresses on TON decreased by 8.8% quarter-on-quarter to 90,800, indicating no significant new user growth in the first quarter. However, the number of transactions per address increased from 19.2 to 21, reflecting enhanced engagement among existing users.After the end of the first quarter, the "Make TON Great Again (MTONGA)" initiative launched by TON has completed four out of seven measures, including the launch of Catchain 2 for sub-second finality, reducing transaction fees by about six times, and making Telegram the largest validator of TON, with a current staking size of 2.2 million TON. Messari states that the second quarter will be a key observation period to test whether infrastructure upgrades can drive a large-scale conversion of Telegram's broader user base into active users on the TON chain.

Syscoin posted on platform X to provide the community with a preliminary update regarding the recent cross-chain bridge security incident involving 5 billion SYS tokens. The bridging service has been suspended, and the team is investigating and fixing the validation issues. The attacker exploited a validation vulnerability in the cross-chain bridge process to create unauthorized SYS outputs on the UTXO side.The affected funds have been transferred and split, and the team is tracking and coordinating with exchanges and ecosystem partners to prevent the contaminated UTXOs from being deposited, traded, or further distributed. The team has identified a fix and advises users not to interact with the cross-chain bridge until it is restored.

According to The Defiant, approximately $220 million of unfrozen funds from the Kelp DAO cross-chain bridge attack has been almost entirely laundered by hackers. On-chain analyst Arkham Intelligence tracking shows that only about $1.7 million remains in the original attacker's wallet. This hacker is linked to North Korea and previously launched a $292 million cross-chain bridge attack on LayerZero in April.Funds were transferred using privacy tools such as THORChain, Wasabi, Tornado Cash, and Umbra. The approximately $71 million in Ethereum frozen by the Arbitrum security council on April 20 is currently the only recoverable portion. A report released by LayerZero on May 18 attributed the attack to the North Korean group TraderTraitor. Kelp has recovered approximately 116,000 rsETH by migrating to Chainlink CCIP and the DeFi United program, while the Aave security module absorbed about $190 million in bad debt.

The Cosmos ecosystem cross-chain bridge Gravity Bridge is suspected to have been attacked due to the leakage of its signing keys, resulting in approximately $5.4 million in assets being stolen. The official team has confirmed that a security incident has occurred and has urgently suspended bridge services for investigation, while also requesting validators to suspend the operation of validation nodes and coordinators. It is reported that its contract keys may have been compromised.

Blockaid disclosed on platform X that the Alephium TokenBridge Ethereum cross-chain bridge was attacked. The attacker controlled 3 out of 4 Guardian keys to forge a VAA (Verification Authorization Message) and completed the attack in about 7 minutes, stealing approximately $815,000 in assets.During the attack, the attacker minted 13.76 million Wrapped ALPH out of thin air, exceeding the circulating supply before the attack by over 100%, while also unlocking and transferring assets such as USDT, USDC, WBTC, and WETH from the custody pool.Currently, the attacker's address still holds approximately $815,000 in stolen assets and 13.76 million uncollateralized Wrapped ALPH, with the largest abnormal transaction being the minting of 13.76 million Wrapped ALPH out of thin air.

Babylon Labs has initiated a temperature check proposal in the Aave community, proposing to integrate native Bitcoin as collateral on Aave V4 through the Babylon Trustless Bitcoin Vaults protocol.This solution does not require wrapping, cross-chain bridges, or custodians. Users will lock Bitcoin in Taproot UTXOs, and redemptions will be controlled by on-chain rules (such as loan repayments), settling directly to Bitcoin UTXOs. The proposal deploys two Aave V4 Spokes: Babylon Core Lending Spoke (lending) and BTC Vault Swap Spoke (post-liquidation settlement).Collateral exists in the form of vaultBTC, a transfer-restricted ERC-20 token that can only be transferred between fixed whitelisted addresses. In the liquidation process, liquidators can immediately settle with WBTC, and subsequent Bitcoin redemptions will be completed by arbitrageurs.

Toncoin announced that its bridge-v3 cross-chain bridge is scheduled to officially and permanently close on September 1, 2026. During the transition period before the closure, all proportionally charged cross-chain fees have been canceled, and users who have used the bridge are reminded to check their wallets as soon as possible and complete the withdrawal of any unprocessed or unrecovered assets before the deadline.If you hold Wrapped TON in Ethereum or BNB Smart Chain, you should rebridge to the TON network before the deadline. If you hold tokens such as jUSDT, jUSDC, jDAI, jWBTC, etc., you need to bridge back to the Ethereum network. Users must complete all asset migrations before the deadline to avoid assets being unable to operate across chains. After September 1, the cross-chain bridge will stop all transfer functions.

Uniswap's governance proposal aims to extend the protocol fee collection and burning infrastructure to BNB Chain and Polygon, and to complete the fee activation process on Celo that was not executed due to a configuration error.The proposal includes: setting the fee receiving address for the V2 protocol on BNB Chain, Polygon, and Celo to TokenJar, and designating the V3 Factory owner on the relevant chains as V3OpenFeeAdapter; additionally, Celo will transfer the feeToSetter role and V4 PoolManager ownership to CrossChainAccount.The proposal states that fees from each chain will be aggregated into the corresponding TokenJar, and then UNI will be bridged back to the Ethereum mainnet and sent to the burn address.

The cross-chain infrastructure platform Squid has completed a $6 million strategic financing round, led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.It is reported that Squid was initially incubated within the Axelar ecosystem and later developed into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with a total of over 4 million transactions and more than 1 million users. After this round of financing, Squid's total funding amount has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further simplifying the process for users to access, manage, and use crypto assets across chains.

The cross-chain network Everclear officially announced on social media that it has decided to end the operations of the Everclear Foundation and Labs, and to stop product development. Currently, the protocol has been shut down, and the Everclear UI and chain have ceased operation. The team stated that the remaining TVL in the protocol has been fully withdrawn, and to their knowledge, no user funds are trapped.Regarding the reasons for the shutdown, Everclear stated that although the monthly trading volume had previously reached $500 million, the team failed to establish sufficient commercial depth and convert it into effective revenue due to users' high price sensitivity in the cross-chain solver field. Additionally, the team exhausted its funds (runway) during the transition to a B2B2C model over the past six months, and several acquisition proposals explored were also unsuccessful.For future arrangements, Everclear is conducting an orderly liquidation to address outstanding debts. The team stated that if there are remaining funds after the debts are settled, they will explore repurchasing existing tokens, with a potential total repurchase amount estimated between $50,000 and $200,000, but this has not yet been finalized. Furthermore, the foundation is considering open-sourcing the protocol's intellectual property (IP) to give the DAO the option to continue advancing work under new management; currently, the DAO itself is still operational.

Syndicate Labs, Everclear, and ZERO Network announced the cessation of operations on the same day, highlighting the deep dilemmas in the blockchain infrastructure sector.Syndicate Labs, a startup supported by a16z and having raised over $27 million, announced its closure after five years of operation, stating that EVM Rollup is no longer the industry standard and the market has fundamentally shifted to custom chains. The cross-chain settlement protocol Everclear (formerly Connext) announced hours later that it would shut down its foundation and lab entities, despite having a monthly trading volume that once reached $500 million, it was unable to convert that volume into revenue, and the CLEAR token dropped about 40% on the same day. The gasless Ethereum Layer 2 ZERO Network built by the crypto wallet Zerion also announced its closure on the same day, with the team shifting focus to the development of Zerion wallet and API products, and users must bridge their funds out by July 31.The common dilemma faced by the three projects is that even with venture capital funding and operational products, it remains difficult to find a sustainable business model to withstand market deterioration.

According to on-chain analyst PeckShield (@PeckShieldAlert), the attacker of the VerusCoin cross-chain bridge has returned 4,052.4 ETH (approximately $8.5 million) to the project team's address (0xF9AB...C1A74), which accounts for 75% of the total stolen amount. The remaining 25% (1,350 ETH, approximately $2.8 million) is retained in the attacker's wallet as a white hat bounty.

According to Blockaid monitoring, the Map Protocol/Butter Network cross-chain bridge has been attacked on Ethereum and BSC. The attacker tricked the Butter Bridge V3.1 contract into directly minting approximately 100 trillion MAPO tokens to a newly created EOA address, which is about 480 million times the legitimate supply of 208 million tokens. Additionally, according to DeFi community YAM monitoring, the attacker has currently profited approximately 52.2 ETH (about $110,000). In response, MAP Protocol stated that the team is aware of the situation and is coordinating with external security partners to investigate and contain the issue. The bridging between MAPO ERC-20 and MAPO mainnet has been suspended. Please do not trade MAPO ERC-20 tokens on Uniswap at this time. During the event mitigation period, the liquidity pool remains at risk.Butter Network responded that ButterSwap has been suspended, and the team is coordinating with external security partners for the investigation. Pending transactions will be processed after security is restored. User funds are not at risk, and all affected transactions will be fully processed after recovery.

The TON Network expansion project TAC has disclosed that a security incident occurred with the TON-TAC asset bridge on May 11. Four days later, approximately 80% of the affected assets have been returned. TAC today released a post-incident analysis report detailing the events. The root cause of the vulnerability was a lack of a single verification in the sorter software: the attacker deployed a counterfeit Jetton wallet on TON, and the sorter accepted the counterfeit tokens because it did not verify the code hash of the sender's wallet. The total loss was approximately $2.86 million, involving USDT, BLUM, and tsTON. Following a public appeal, about 90% of the assets were returned to the multi-signature address controlled by TAC on May 14, with the remaining 10% retained by the attacker.The cross-chain bridge remains paused, awaiting independent review of the repaired sorter software by the auditing party and TON partners. Cross-chain operations will resume once the verification of the repaired software is completed and the gap is filled with recovered assets and TAC Foundation token reserves. Due to the need for multi-party coordination, a precise timeline cannot be provided. The remaining funding gap will be filled by the TAC Foundation treasury, ensuring that users and protocols incur no financial losses. TAC reminds users that official updates are only published through this account and Telegram, and any unsolicited "recovery" or "support" private messages are scams.

The DeFi lending protocol Alchemix announced the completion of its cross-chain infrastructure update. The old alUSD / alETH cross-chain bridge on Optimism and Arbitrum has officially been taken offline and replaced with a new cross-chain bridge compatible with v3 alchemist.Alchemix disclosed that it has synchronized the DVN (cross-chain transaction validation) configuration, maintaining a 2/3 multi-signature confirmation mechanism for cross-chain transactions, while introducing Deutsche Telekom as a validation service provider to enhance the reliability of the cross-chain validation infrastructure.

Echo Protocol announced that it is investigating a security incident affecting the Echo cross-chain bridge on Monad. During the investigation, all cross-chain transactions remain suspended.According to previous reports, market news indicated that Echo Protocol was hacked on Monad. The attacker minted 1,000 eBTC (approximately $76.7 million) and used a tested process to deposit 45 eBTC (approximately $34.5 million) into Curvance. Subsequently, they borrowed approximately 11.29 WBTC (approximately $867,700) using this as collateral, bridged the WBTC to Ethereum, exchanged it for ETH, and ultimately transferred 384 ETH (approximately $821,700) to Tornado Cash.Yuxian, the founder of Slow Mist, stated that Echo Protocol may have been compromised due to the Admin single point private key being breached.

According to monitoring by Paitun, the Adshares cross-chain bridge attacker has returned 256 ETH to the project deployer's address, worth approximately $540,700, accounting for about 86% of the previously stolen funds.Previously, the Adshares cross-chain bridge was attacked on May 17, 2026, resulting in a loss of approximately $628,000.

PeckShield posted on platform X that from February to mid-May 2026, there have been at least 8 significant security incidents related to cross-chain bridges in the crypto industry, with attackers stealing approximately $328.6 million in assets from cross-chain protocols. PeckShield pointed out that cross-chain infrastructure remains a high-frequency target for hackers, and the associated risks continue to be highlighted in the context of the expansion of the multi-chain ecosystem.

Kelp announced on platform X that to ensure the security standards of rsETH and optimize network integration, cross-chain support for rsETH on multiple networks will be stopped after June 15. The affected networks include Optimism, Manta, Mode, Blast, Scroll, X Layer, zkSync, Zircuit, Swellchain, Hemi, Berachain, Sonic, HyperEVM, Unichain, TAC, Avalanche, Plasma Stable, MegaETH, Monad, and Movement.Kelp reminds users holding rsETH on the above chains that they need to bridge back to the Ethereum mainnet before June 15. After June 15, asset recovery can still be requested, but each address will need to pay a fee of 100 USDC. The specific process will be announced as the deadline approaches.