Taiko ERC20 Vault Attacked, Loss Exceeds $1 Million

TechFlow News: On June 22, Blockaid reported that Taiko’s ERC-20 treasury on Ethereum was attacked, resulting in losses exceeding $1 million. Preliminary analysis suggests the issue may stem from a vulnerability in Taiko’s cross-chain bridge proof verification, enabling attackers to forge cross-chain messages and withdraw assets, thereby causing unauthorized release of treasury funds.