ME News reports that on October 19 (UTC+8), the crypto signals social platform ILITY tweeted that a security vulnerability occurred on its network, and its cross-chain bridge has been temporarily suspended. The team is collaborating with law enforcement, cryptography forensic experts, and investors to investigate the incident and commits to providing further updates as more information becomes available.
According to on-chain analyst Specter, a wallet recently lifted privacy protections on 35,700 ZEC (approximately $41 million) and began transferring funds. The funds were moved cross-chain via NEAR Intents and routed through multiple addresses into the Bitcoin and Ethereum networks. This suspected theft address is also linked to the ILITY cross-chain bridge, where 4.1 million ILY tokens were emptied. The outgoing address currently holds approximately $25 million in ZEC. (Source: Foresight News)
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