hyperbridge

Hyperbridge Cross-Chain Interoperability Protocol Hyperbridge announced the completion of a comprehensive architecture reboot, re-launching after completing security audits, bug bounty incentives, and system reconstruction, and officially transforming into a "hyperstructure." The protocol was suspended after the security incident on April 13, during which it completed a joint audit with organizations such as SRLabs and paid over $150,000 in bounties to security researchers.The team stated that this upgrade removed the original centralized management keys, transitioning to a fully permissionless network of validators and provers, achieving full-stack decentralized operation.This reboot also introduced the "Hyper Fungible Token (HFT)" standard, making each cross-chain asset an independent application layer structure, with issuers autonomously controlling cross-chain behavior rules, including pause mechanisms and throttling strategies. Hyperbridge also released the OFT (Omnichain Fungible Token) adapter, which is compatible with existing cross-chain protocols like LayerZero, allowing assets to be migrated to a zero-knowledge proof-based transport layer by simply modifying configuration parameters, without the need to redeploy contracts.In addition, the protocol's business model has shifted from a pay-per-use model to a subscription model, allowing cross-chain applications to pay a stablecoin fee of $50 to $1,000 per month for bandwidth services. The official statement indicated that this upgrade marks Hyperbridge's transition from an early cross-chain bridge project to a fully decentralized infrastructure protocol, aiming to provide a unified interoperability layer for a multi-chain ecosystem without the need for trusted intermediaries.

According to Hyperbridge's official disclosure, the loss from the Token Gateway vulnerability incident has been revised from an initial estimate of $237,000 to approximately $2.5 million, with the increase mainly coming from losses in incentive pools on Ethereum, Base, BNB Chain, and Arbitrum.The attacker extracted about 245 ETH from the relevant contracts and then bypassed the MMR proof verification mechanism by forging cross-chain messages, minting 1 billion bridged DOT and selling them into a thinly traded market. Currently, some of the stolen funds have been traced on-chain to Binance, and Hyperbridge is collaborating with Binance's compliance team and law enforcement agencies for an investigation.Native DOT of Polkadot and products like Intent Gateway are unaffected, while the Token Gateway and the bridged DOT contracts on the four affected EVM chains remain suspended. The MMR verification logic patch is undergoing external audit, and the bridging functionality will be restored after the audit is completed.

The blockchain interoperability protocol Hyperbridge disclosed details of the previous DOT attack incident, resulting in a loss of approximately $237,000. The root of the vulnerability lies in the HandlerV1 contract's VerifyProof() function, which lacks input validation and does not verify the leaf_index leafCount, allowing attackers to forge Merkle proofs.Using this, the attacker gained administrator privileges for the DOT token bridging contract on Ethereum, subsequently minting 1 billion bridged DOT (which is about 2800 times the legitimate circulation of approximately 356,000) and cashing out on decentralized exchanges. Hyperbridge stated that it is currently working with security partners to trace the funds, and cross-chain functionality will remain suspended until the investigation is completed.

Polkadot stated on the X platform that the team has noticed security issues with the Ethereum gateway contract of Hyperbridge. This vulnerability only affects DOT tokens bridged to Ethereum via Hyperbridge, while DOT within the Polkadot ecosystem and other bridging solutions are not affected. Polkadot and its parachains and native DOT remain secure. Hyperbridge has suspended operations during the investigation.According to previous news from ChainCatcher, the Hyperbridge contract encountered an MMR proof replay vulnerability, resulting in a loss of approximately $242,000.

According to monitoring by BlockSec, the HandlerV1 contract managed by Hyperbridge has a Merkle Mountain Range (MMR) proof replay vulnerability on the Ethereum network, resulting in a loss of approximately $242,000. The vulnerability arises from the proof not being bound to the request, allowing attackers to replay historically valid proofs and combine them with new forged requests to perform actions such as changing administrator permissions.In a specific case, the attacker changed the administrator of the Polkadot (DOT) Token and then exploited the permissions to mint additional DOT for profit. Related attack transactions have been observed, including changing the administrator and minting of DOT Token (loss of approximately $237,400), changing the administrator and minting of ARGN Token (loss of approximately $3,800), and host withdrawals, among others.Previously, it was reported that the Hyperbridge gateway contract was attacked, resulting in the minting and dumping of 1 billion DOT on Ethereum.

ChainCatcher news, the cross-chain application protocol Hyperbridge has launched its mainnet on Polkadot. Polkadot is a blockchain designed with interoperability at its core. Its modular architecture allows developers to build customized blockchains. After securing a parachain slot on Polkadot, the blockchain interoperability protocol Hyperbridge officially launched its mainnet, aiming to elevate cross-chain communication to a new level.

ChainCatcher news, according to Chainwire, the blockchain interoperability protocol Hyperbridge has completed a $2.5 million seed round financing, led by Web3 Foundation and Scytale.It is reported that Hyperbridge is a cross-chain interoperability solution, and the protocol has also secured a parachain slot in the Polkadot ecosystem, reinforcing its commitment to deep integration and leveraging Polkadot's unique advantages.

ChainCatcher news, according to Business Insider Africa, blockchain technology company Hyperbridge has successfully raised $2.6 million through Polkadot Crowdloan. This new funding will be used to further develop its technology platform. Hyperbridge leverages Polkadot's architecture to unlock new possibilities for decentralized applications (DApps) and enhance the scalability and efficiency of the Web3 ecosystem.