Cross-chain bridges keep getting robbed. The latest target is Allbridge, a protocol designed to move stablecoins between blockchain networks, where an attacker made off with approximately $1.65 million before routing the funds from Solana to Ethereum and converting them into ETH.
What happened
According to on-chain data flagged by Arkham Intelligence, the attacker extracted the funds from Allbridge’s infrastructure and deliberately moved them across networks, bridging from Solana to Ethereum before swapping into ETH.
Allbridge is a cross-chain bridge protocol focused on stablecoin transfers, operating across EVM-compatible networks as well as non-EVM chains like Solana.
This is not Allbridge’s first rodeo with attackers. In April 2023, the protocol suffered a flash-loan attack targeting its BNB Chain liquidity pools, which resulted in roughly $570K in losses. That incident involved price manipulation rather than a direct fund drain. Allbridge eventually recovered approximately $465K of those funds through a white-hat hacker arrangement.
