NFT News Official TheBitTimes.com

Coinbase’s Institutional research team notes many bridge hacks occurred due to the complexities around source chain commit and cross-chain relay. Cyber incidents related to cross-chain bridges are likely to decrease in the foreseeable future as many protocols continue adopting rollup solutions alongside increased scrutiny on secure designs. According to Coinbase Institutional’s recent research report, most of the largest bridge hacks over the past few years happened due to the complexities around the signing and validation of messages by the relayers. These third-party services facilitate the transaction of data between different blockchains. Value lost due to cross-chain bridge s related to other incidents in the crypto industry | Source: Coinbase David Han, Institutional Research analyst at Coinbase, referred to the notorious Ronin bridge hack when a hacker using a social phishing scheme got five out of nine private keys needed to forge data payloads to signify ...

Rango Exchange integrates Allbridge Core for Enhanced Cross-Chain Liquidity. Rango Exchange, a cross-chain DEX/Bridge aggregator, announce a strategic partnership with Allbridge Core, a stablecoin cross-chain swap solution that enables users to swap between dollar-pegged tokens across different blockchains without wrapping or unwrapping them . This integration is a significant step towards enhancing cross-chain liquidity and interoperability in the crypto space, as it allows users to access more stablecoin markets and arbitrage opportunities with low fees and high speed. How does Allbridge Core work? Allbridge Core operates by maintaining liquidity pools for the supported stablecoins on each chain. When a user sends tokens via Allbridge Core, the bridge exchanges incoming tokens into their dollar value in the token pool for that particular token. This value is then sent via the underlying messaging protocol to the destination chain. The bridge contract on the destination chain swaps t...