On August 9, a bridge connecting the XRP Ledger and Coreum lost 198,715.88 XRP after an attacker tricked its deposit-checking system into registering a transfer between two of their own wallets as a genuine deposit. The attacker then minted unbacked assets on the Coreum side to withdraw real XRP, converted the funds to ETH via THORChain, and sent them to Tornado Cash. The flaw was traced to Coreum-side software rather than the XRP Ledger itself. Twenty-one separate Coreum relayers each attested to the same phantom deposit, allowing the attacker to escalate amounts. The bridge remains halted, a report was filed with the FBI Internet Crime Complaint Center, and a compensation plan for users is being developed. XRP was trading near $1.02, close to a 21-month low, down roughly 4.4% on the week.
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