Threat Management

More than $4 million stolen in latest bridge cryptocurrency hack

Cryptocurrency ‘altcoins’ sit arranged for a photograph on April 25, 2018, in London. (Photo by Jack Taylor/Getty Images)

Yet another bridge cryptocurrency has been hacked, making it at least the third such hack in recent weeks.

This past weekend, shared word that its “Passport” site was attacked by criminals. In just the past week, bridge chain sites Wormhole and Qubit have also been hit for $300 million and $80 million, respectively.

“Community, unfortunately Meter Passport was hacked a few hours ago,” according to the Twitter post on Feb. 5. “Please do not trade the unbacked meterBNB that is circulating on Moonriver. We have identified the issue: Passport has a feature to automatically wrap and unwrap gas tokens like ETH and BNB for user convenience.”

The Meter hack is estimated to have stolen more than $4 million.

Like many attacks on so-called “bridge crypto sites,” which convert different digital currencies, Meter is likely under the gun as a “third-party” because it provides services to cryptocurrency sites, but it is not a cryptocurrency provider itself.

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