Autheo THEO token plunges 92% after suspected bridge exploit

Autheo's THEO token has plunged more than 90% following a suspected cross-chain bridge exploit that reportedly allowed an attacker to mint millions of unauthorized tokens on Base. Autheo has launched an investigation into a suspected THEO exploit after the token lost more than 90% of its value. PeckShield reported that an attacker minted 19 million THEO on Base and swapped the tokens for 700.8 ETH worth approximately $1.76 million. Another researcher claimed the attacker minted 119 million THEO through a suspected Hyperlane bridge vulnerability, although Autheo has not confirmed the figure.

Also reported by The Defiant.

Source: crypto.news