Taiko bridge exploit drains $1.7M, users urged to withdraw funds

Attackers exploited a flaw in Taiko's chain state verification mechanism, stealing $1.7M from bridge protocols. Taiko told users to withdraw immediately.

• Taiko confirmed a compromise of its chain state verification mechanism, making all bridge security assumptions unreliable.
• Attackers stole up to $1.7M by forging fraudulent bridge messages to release assets from the ERC20 vault.
• The exploiter moved 1.99 million TAIKO tokens ($189K) to MEXC and holds $1.5M in ETH.
• Taiko is the latest in at least 23 crypto protocol exploits in June, per DeFiLlama.
• Security firm Blockaid identified the root cause as a flaw in how Taiko's bridge validated source signals.

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