Oraichain Suffers Cross-chain Exploit, Unauthorized ORAI Minted, Network Paused

August 11th, Oraichain announced that yesterday's incident was due to a vulnerability in the EVM cross-chain transfer path, which resulted in unauthorized ORAI being minted. Since August 9th, 04:00 UTC, the network has been paused, and the bridge contract, cross-chain paths, and public interfaces have been restricted to control the impact of the event.

Oraichain stated that the relevant vulnerability paths have been identified and addressed, and the associated fund transfer paths have also been restricted. The team is closely collaborating with partners and centralized exchanges to limit further fund movement and protect the affected assets.

Currently, investigations and reconciliations are still ongoing. At the same time, the team is preparing to restore the standard supply of ORAI, including burning the unauthorized minted balance and verifying and repairing the affected protocol state.