Meter.io Cross-Chain Bridge Was Hacked and Lost About $4.4 Million

TokenInsight news, According to official news, Meter.io cross-chain bridge was hacked today and lost about $4.4 million. Hackers leveraged a vulnerability of the bridge to mint a large amount of $BNB and $WETH tokens and depleted the bridge reserve for $BNB on $WETH (the reserve comes from a portion of the proceeds of the on-chain auction to keep the price of the Meter native token $MTR stable). The issue is a bug introduced in the automatic wrap and wrap of native tokens like BNB and ETH extended by the Meter team, which allowed hackers to call the underlying ERC20 deposit function to fake an $BNB or $ETH transfer. The only impacted tokens were native gas tokens ($WETH and $BNB), and only Meter and Moonriver networks were impacted. In addition, the team is working on taking snapshots and designing a compensation plan for the $WETH and $BNB holders and LP providers.