Protocols Linked to Bitcoin and Ethereum Lose $35 Million in Series of Attacks

Multiple cross-chain protocols, including Verus and B² Network, faced significant security breaches, underscoring persistent vulnerabilities.

In a dramatic series of cyber attacks within just six hours, cryptocurrency protocols linked to Bitcoin and Ethereum lost over $35 million. This alarming incident involved at least three different systems and highlighted ongoing issues within their design and governance.

The Verus Ethereum bridge was notably affected, with approximately $7.54 million stolen through an exploit that mirrored a previous hack from May, suggesting unresolved security flaws. This particular attack allowed the unauthorized release of funds without adequate backing, showcasing a critical vulnerability in the system.

“An attacker used the bridge import path to trigger unbacked Ethereum-side payouts, draining ~$7.54M in ETH and other assets from bridge reserves,” reported BlockAid.

In another incident, B² Network suffered a loss of around $3.86 million when an attacker accessed the upgrade authority of its staking contract. This breach underscored the risks associated with compromised keys and permissions, rather than flaws in the cryptographic protocols themselves.

Both incidents reflect a worrying trend where attackers exploit logical flaws or gain unauthorized access, leading to significant financial losses. The Verus protocol, for instance, saw its total value locked plummet from nearly $100 million at the beginning of 2025 to about $9 million following these attacks, diminishing user trust.

These breaches are part of a larger pattern affecting various cryptocurrency projects, with four separate protocols compromised in a single day, all suffering from similar vulnerabilities. As AI-driven intrusion tools become more sophisticated, the security landscape for cryptocurrency protocols is expected to face increasing challenges, raising concerns over the future safety of digital assets.