ILITY Suspends Cross-Chain Bridge Following Security Breach
ILITY has temporarily suspended its cross-chain bridge after discovering a security vulnerability on its network. The exploit resulted in the unauthorized removal of 4.1 million ILY tokens from the bridge contract.
An address tied to the security incident removed privacy protections from 35,700 ZEC before routing the funds through NEAR Intents and multiple wallet addresses onto the Bitcoin and Ethereum networks. The suspect wallet continues to hold roughly $25 million in ZEC.
The project team is collaborating with law enforcement officials, cryptographic forensics experts, and investors to investigate the breach. The team plans to release further updates as additional information becomes available.
Key points
- ILITY halted its cross-chain bridge following a network security vulnerability.
- An attacker drained 4.1 million ILY tokens from the bridge protocol.
- The suspect wallet moved 35,700 ZEC across NEAR Intents to Bitcoin and Ethereum networks.
- The project team is investigating the exploit alongside law enforcement and forensics experts.
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How we writeDisclaimerQuestions and answers
Why did ILITY suspend its cross-chain bridge?
ILITY paused its cross-chain bridge after identifying a security vulnerability on its network that allowed an unauthorized entity to drain funds.
How many tokens were stolen in the ILITY security incident?
The attacker drained 4.1 million ILY tokens from the bridge and moved 35,700 ZEC across multiple blockchain networks.
What steps is ILITY taking following the exploit?
The project team is actively investigating the incident alongside law enforcement officers, cryptographic forensics specialists, and investors, with updates planned as details surface.