Woofun AI reports that Allbridge Core, a cross-chain stablecoin bridge, has paused its protocol as a precautionary measure following a security incident. The suspension was announced via an X post on Sunday, urging users with liquidity in affected pools to withdraw immediately while investigations proceed.

The exploit targeted the Solana deployment, resulting in a loss of $1.65 million. Onchain Lens data shows the attacker initiated a $1.12 million USDC flash loan from Kamino, executing rapid USDC/USDT swaps to distort the stablecoin pool’s exchange rate. By withdrawing liquidity at these manipulated rates, the attacker created a temporary positive arbitrage window, repaying the loan and retaining the difference. The stolen assets were bridged from Solana to Ethereum before being obscured in privacy pools. Allbridge Core noted that any funds gained from this imbalance should be returned to compensate affected LPs.

Woofun AI data shows that this event marks the sixth major bridge attack since May, highlighting persistent vulnerabilities in cross-chain infrastructure. In June, Taiko, an Ethereum layer-2 blockchain, suffered a $1.7 million exploit, reopening its bridge 11 days later after a four-step recovery plan. Prior to that, Secret Network lost $4.67 million due to an "infinite mint" bug involving Axelar-wrapped assets. Other recent incidents involved Gravity Bridge, Verus Bridge, and Butter Network.

Bridges remain attractive targets because they hold large pools of funds backing assets on the destination blockchain. The frequency of these exploits underscores the systemic risk inherent in current cross-chain architectures.