Polkadot Cross-Chain Bridge Attacked, 1 Billion DOT Maliciously Minted and Dumped

BlockBeats News, April 13th, according to PeckShield monitoring, 1 billion DOT tokens were maliciously minted and sold on the Ethereum chain.

On-chain data shows that about 1 hour ago, the attacker exploited the admin privileges, transferred contract control to a malicious address, minted 10 billion DOT, and immediately sold them, causing the price to plummet from $1.22 to near zero.

The situation is still developing, and there has been no official response from Polkadot. The attack targeted bridged assets on Ethereum, not the native Polkadot chain.