Allbridge announced that they were investigating the theft, and were working with law enforcement. Meanwhile, the project suspended operations and announced that they were preparing a user compensation plan.
Allbridge cross-chain bridge exploited for around $574,000
The Allbridge cross-chain bridge project was exploited for around 283,000 BUSD and 291,000 USDT (~$574,000). The thief was able to manipulate a vulnerability in the project's smart contract that allowed them to manipulate the price of assets in the Allbridge liquidity pool.