"Crypto Firm Meter Loses $4.4m in Cyber-Heist"

Yet another cryptocurrency firm has been hacked to the tune of millions of dollars.  Meter provides decentralized finance (DeFi) infrastructure services, linking siloed blockchains for users with so-called "cross-chain bridges." An unauthorized intruder over the weekend had managed to exploit a bridge vulnerability to mint a large number of Binance Coins (BNB) and wrapped Ethereum (WETH), while running down its reserves.  After discovering the breach, the company determined that the extended code had a wrong trust assumption which allowed the hacker to call the underlying ERC20 deposit function to fake an BNB or ETH transfer.  Meter admitted it lost $4.4m in the raid but said it would compensate those affected while working with the authorities to trace its attacker.  Meter urged the hacker to return the funds but has not publicly offered its assailant a bug bounty reward for their safe return, as did two other crypto firms compromised last week.
 

Infosecurity reports: "Crypto Firm Meter Loses $4.4m in Cyber-Heist"