🚨 Coreum Bridge Exploit: 200K XRP Stolen & Price Slips Below $1

An in-depth breakdown of the 97-minute bridge attack, how fake deposit data fooled the relayer, why the XRPL remains 100% safe, and broader market updates.

THE AI Hustlerss

Your Daily Web3 Intelligence & Market Deep-Dives

The crypto market is holding in a tight range as total market cap sits around $2.2 Trillion. Traders are standing by ahead of key macro economic reports, but all eyes are currently locked on the cross-chain bridge security incident that shook the ecosystem.

1. Inside The Attack: 97 Minutes, 94 Transactions

An attacker just drained nearly 200,000 XRP from the Coreum bridge in just 97 minutes. The exploit triggered widespread concern and sent $XRP's price dipping below $1 for the first time in nearly 2 years.

How it went down: The attacker ran a quick test with small transfers, then ramped up to firing off 1,695 XRP every 50 seconds. Over 94 quick transactions, they cleaned out the vault, leaving a measly 493.5 XRP behind, and instantly split funds across brand new wallets to hinder tracking.

2. What Actually Caused the Exploit? (Hint: It Wasn't XRPL)

Initial rumors claimed the hack was caused by multi-sig key leaks or core ledger flaws. However, the reality is different: the attacker simply transferred XRP between 2 wallets they owned and tagged the memo field.

The bridge relayer saw the custom memo, assumed it was a legitimate deposit into the bridge, and automatically credited the attacker with free wrapped tokens on Coreum. 17 out of 28 relayer keys signed off because the security process followed code rules—it was just working with completely fake deposit data.

3. Why the XRP Ledger Remains 100% Safe

It is super important to distinguish bridge logic bugs from base blockchain vulnerabilities. No private keys on the core ledger were stolen, and the core XRP Ledger protocol, consensus mechanism, and security remain entirely uncompromised.

4. Macro & Market Updates: Bitcoin & ETFs

• $BTC Price Action: Hovering near $63,750 – $63,900 after pulling back from $65k, with solid baseline support holding strong at $63,600.
• ETF Inflows: Crypto ETFs recorded $1.1B in net weekly inflows, though broad market macro caution is keeping leverage low across derivative platforms.

That's it for this week! Try setting up your first multi-agent workflow today and reply to this edition letting me know how it goes.

— AI Hustlers Team