Terrill Dicki
Oct 28, 2025 12:42
A security breach in the 402bridge protocol has led to unauthorized transactions, draining over $17,000 in USDC from more than 200 users, according to CoinMarketCap.
A recent hack targeting the 402bridge protocol has resulted in significant losses for cryptocurrency users, as reported by CoinMarketCap. The breach, detected by the web3 security firm GoPlus Security, has led to over 200 users losing a substantial amount of USDC due to unauthorized transactions.
Details of the Breach
The compromise of the 402bridge protocol was attributed to a leaked admin private key, which allowed the attacker to exploit the system. The hacker managed to steal approximately $17,693 worth of USDC, highlighting significant security vulnerabilities within the protocol. These vulnerabilities are primarily linked to the x402 mechanism, which depends on private keys stored on a server to grant admin privileges, thus enabling excessive authorization of on-chain addresses.
Security Concerns
This incident has raised concerns about the security measures in place for decentralized finance (DeFi) protocols, particularly those that utilize cross-layer mechanisms like x402bridge. The reliance on server-stored private keys poses a risk, as unauthorized access can lead to widespread financial losses. The breach occurred on October 28, shortly after GoPlus Security issued a warning through its Chinese social media channel about potential vulnerabilities within the x402bridge protocol.
Community and Industry Response
The crypto community has been urged to remain vigilant and to scrutinize the security measures of DeFi platforms they engage with. This incident underscores the importance of robust security practices, including the secure management of private keys and regular audits of smart contract code.
For more information, visit the original report on CoinMarketCap.
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