Hackers Exploited Ethereum Bridge Contract to Drain Full Balance from Payy Network
Attackers exploited Payy’s Ethereum bridge and drained its full balance, pausing the network.
Payy Network said attackers exploited its Ethereum bridge contract at about 4:21 UTC on September 24 and drained the contract’s entire balance. The bridge supported transfers between Ethereum and Payy Network, and Payy said the stolen assets were users’ non-custodial deposits tied to Payy Network and Payy Wallet. The company paused deposits, withdrawals, transfers, card transactions, and wallet functions while investigating. It has not disclosed the flaw type, stolen amount, or attacker addresses, but said it notified law enforcement, exchanges, and blockchain analytics firms.
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