Wire · operational-macro
Bitcoin, Ethereum-linked protocols lose $35 million in multiple attacks hours apart
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Fusion42 · 23 July 2026 · Fusion42 review
Three blockchain bridges and cross-chain protocols lost $35 million in coordinated attacks within six hours, all exploiting logic flaws and compromised administrative keys rather than broken cryptography. Verus's Ethereum bridge was drained for the second time this year through the same unpatched vulnerability, after the protocol redeposited recovered funds into the vulnerable system.
This Wire brief sits within Fusion42's coverage of Crypto & Web3, Cybersecurity and Security Infrastructure.
◆ ◆ The Wire takeaway
If you're building cross-chain infrastructure, your customers are bleeding capital because they're auditing code but not managing keys — and attackers now have AI-driven tools to find compromised permissions faster than teams can rotate them. Bridge operators have become a liability magnet: the money isn't in the smart contracts, it's in whoever controls the keys.
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1 source · 23 Jul 2026
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