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.
- The Ethereum bridge was drained of its full balance at 4:21 UTC.
- Stolen funds were users’ non-custodial Payy deposits.
- Deposits, withdrawals, transfers, cards, and the wallet are paused.
- Vulnerability type and stolen amount have not been disclosed.
- Payy notified law enforcement, exchanges, and analytics firms.
- Products
- Payy NetworkPayy Wallet
- Victims
- Payy Network
- Organizations
- Payy
From the original article
2 min read at cybersecuritynews.com
Payy Network has confirmed that attackers exploited its Ethereum bridge contract and drained the contract’s entire balance, forcing the stablecoin payments platform to suspend network and wallet functions. According to a public statement from Payy, the incident occurred at approximately 4:21 UTC on September 24. The affected bridge contract supported transfers between Ethereum and the […]
By Abinaya · cybersecuritynews.com
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