we'll suspend the deal after Allbridge was attacked by the Flash

Allbridge Core has suspended. The security agencies CertiK and PeckShield indicated that the mobile pool on Solana was hit by lightning and lost approximately $1.665 million.

The attack took place in Solana's mobile pool.

Allbridge Core transfers original stable currency between different block chains, including USDC and USDT, mainly through mobile pools, rather than issuing sealed assets. The chain analysis shows that the attackers obtained approximately $1.12 million in lightning loans from the Solana Loan Agreement Kamino, which quickly converted USDC and USDT in a single transaction, changing the pool ratio and extracting assets at a more favourable price.

Lightning loans usually require the completion of the loan and return in the same transaction. It was this very characteristic that was exploited in the attack, which magnified the in-pool pricing deviations at very short notice.

The money has been transferred across the chain to the Ether.

Onchain Lens, the chain monitor, stated that the stolen assets were subsequently transferred to an ETA address and further dispersed to more addresses. It is not clear how much money the attackers still control.

Allbridge stated that the agreement had been suspended to cooperate with the investigation and recommended that the liquidity provider withdraw funds from the affected pool. As a result of initial manipulation, the pool was imbalanced, and temporary arbitrage was created in the market. Allbridge also called on traders who profited during price imbalances to return funds to compensate liquidity providers.

A similar incident occurred in 2023.

It's not the first time Allbridge has been hit by a lightning strike. In 2023, the mobile pool on BNB Chain was attacked and lost approximately $650,000. The company stated at the time that it had recovered most of the funds and adjusted its liquidity and withdrawal calculations.

Public information indicates that Allbridge completed $2 million in financing in 2022, which included the expansion of the cross-chain bridge operation and security audits.