Hacker Steals Over $11M From Verus-Ethereum Bridge
- Attack Overview: Hackers exploited a vulnerability in the Verus cross-chain bridge contract, draining $11.58 million in assets, including 1,625 ETH, 103.56 tBTC, and 147,000 USDC, highlighting significant security risks in cross-chain bridges.
- Attack Mechanism: The attacker constructed a fraudulent transaction for approximately $0.01, successfully bypassing the contract's verification mechanisms, which led to the erroneous payout of substantial assets, underscoring the critical lack of source amount validation.
- Industry Impact: According to Certik, the broader crypto sector lost over $650 million last month, with the Verus attack being the eighth incident involving bridge platforms this year, reflecting the increasing security risks in this area.
- Market Reaction: Despite the significant losses from the attack, Verus's native token VRSC showed little reaction on the day of the incident, indicating a lack of market confidence, as it has lost nearly 73% of its value over the past year.
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Technical Analysis for DRIFT
Technical Sentiment Analysis for Drift (DRIFT). As of , Drift (DRIFT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DRIFT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DRIFT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Drift (DRIFT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0133 | 0.02 | 0.0244 | 0.0311 | 0.0355 | 0.0422 | 0.0466 |
| Fibonacci | 0.02 | 0.0242 | 0.0268 | 0.0311 | 0.0353 | 0.0379 | 0.0422 |
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