SAEDNEWS: An attacker exploited a security vulnerability in the cross-chain bridge of Polkadot on the Ethereum network, creating 1 billion unbacked DOT tokens. The attacker quickly sold the tokens and obtained around $238,000 worth of Ethereum, triggering a 4.8% drop in Polkadot’s price and causing significant concern across the crypto market.
According to a report from Nobitex cited by Saed News, an attacker exploited a security vulnerability in a bridge and was able to generate 1 billion fake (unbacked) DOT tokens. The unusually large amount suggests a serious flaw in the bridge’s control mechanism or smart contract logic.
Immediately after minting the tokens, the attacker sold the entire supply in a single transaction and received approximately 108.2 ETH, worth around $238,000. Such rapid liquidation is typically used in exploit scenarios to reduce the chance of funds being traced or frozen.
Following the incident, the price of Polkadot dropped by about 4.8%, falling to $1.15. The decline reflects growing market concern over potential oversupply and weakened investor confidence.
No official statement has yet been released by the Polkadot team. As a result, key details remain unclear, including whether the core network was affected or if only the bridged version of DOT was compromised.
