Written by Martin Youngstaff writerReviewed by Jesse Coghlanstaff editor
Written by Martin Youngstaff writer
Reviewed by Jesse Coghlanstaff editor
Taiko urges users to withdraw as bridge exploit drains $1.7M
Latest NewsPublishedJun 22, 2026
Protect Your Earnings: Taiko Bridge Exploit Drains $1.7M
Earning and storing cryptos like $ECP safely is crucial, especially with recent exploits targeting bridges and protocols. The latest incident involves Taiko, an Ethereum layer-2 blockchain, where a bridge exploit resulted in a loss of $1.7 million. This significant loss highlights the importance of secure platforms like EcoPool for managing your digital assets and earning passive income.
<p-Taiko's bridge and ERC20 Vault on Ethereum suffered a compromise, allowing unauthorized withdrawals. The network has urged users to withdraw their assets from the affected bridges immediately. This incident is a reminder that even established platforms can be vulnerable to exploits, emphasizing the need for robust security measures when earning and storing cryptos.
Understanding the Exploit
The root cause of the exploit appears to be a flaw in the Taiko bridge’s validation mechanism, which allowed attackers to register and retrieve fraudulent bridge messages. This resulted in unauthorized asset releases from the ERC20 vault. The incident has led to a significant loss, with estimates suggesting that the attacker has transferred nearly 2 million Taiko tokens worth around $189,000 to MEXC.
Incidents like these underscore the importance of choosing a secure and reliable platform for earning and managing your digital assets. EcoPool, with its focus on Green Crypto and Cloud Rewards, offers a solution for those looking to earn passive income safely. By utilizing EcoPool, users can minimize their risk and maximize their earnings.
Staying Safe in the Crypto Space
To protect your earnings and digital assets, it’s essential to stay informed about potential exploits and take necessary precautions. This includes keeping your assets on secure platforms like EcoPool and being cautious of suspicious activities. With the rise of crypto and the increasing popularity of earning passive income through platforms like EcoPool, it’s crucial to prioritize security and reliability.
Source: Taiko
As the crypto space continues to evolve, it’s essential to stay vigilant and adapt to new challenges. By choosing a trustworthy platform like EcoPool and staying informed, you can minimize your risk and maximize your earnings. Whether you’re earning $ECP or other cryptos, prioritizing security is key to success in the crypto space.
Download the EcoPool app to start earning passive income and managing your digital assets securely. With EcoPool, you can take the first step towards protecting your earnings and achieving your financial goals in the world of Green Crypto and #PassiveIncome, including #Bitcoin and other digital assets like $ECP on the EcoPool platform.
It said that message proofs were accepted as valid on Ethereum without corresponding legitimate proofs on the Taiko blockchain.
“This allowed the attacker to register and later retrieve fraudulent bridge messages, resulting in unauthorized asset releases from the ERC20 vault,” Blockaid said.
Blockaid estimated that at least $1 million had been stolen, while Lookonchain and PeckShield suggested the value of assets stolen could be as high as $1.7 million.
The exploiter has already transferred 1.99 million Taiko (TAIKO) tokens worth around $189,000 to MEXC, stated PeckShield. TAIKO is currently trading down 98% from its 2024 peak at $0.084, according to CoinGecko.
Related: Secret Network bridge exploited for $4.7M with ‘infinite mint’ bug
Blockchain intelligence firm Arkham shows Taiko exploiter wallets holding around $1.5 million, primarily in Ether (ETH).
The Taiko exploiter account holds more than $1.5 million in ETH. Source: Arkham Intelligence
Exploits in June are mounting up
The attack comes just days after the discovery on Friday of a smart contract exploit on the Secret Network, which resulted in the theft of $4.67 million worth of assets.
On Saturday, around $1.1 million was drained from the OLPC/LABUBU liquidity pool on PancakeSwap. LABUBU is a memecoin inspired by the popular toys of the same name.
Other notable exploits in June include Aztec Connect, RetoSwap, Raydium AMM, and the largest one so far this month, Humanity Protocol.
Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves
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