What is it Hyperbridge ?

It is a bridge protocol connecting the Polkadot network and the Ethereum network designed by the developers to be highly secure and not based on intermediaries but on encryption, and it was built in a professional way to be a very complex encryption system that has been developed to solve the problem of traditional bridges that are hacked and manipulated easily and cause loss of money, and it was based on encryption of information on 3 main layers of advanced software and encryption that make it almost impossible to penetrate.

what happened in the attack!

Well, the hacker discovered a security vulnerability and got the powers of the manager, means he is the one who controls the coin mint now, which he did in a very short time. He minted 1 billion coins and sold them at once, which led to the value of the currency to drop to zero immediately. He profited 108 Ethereum, equivalent to about 240 thousand dollars. The flaw was in the smart contract function that allowed the hacker to attack and steal the money. The interesting thing was that the hacker could not steal 1 billion dollars, but he was caught in the liquidity trap.

Take This With You

Hyperbridge is supposed to be secure. It has strong encryption and multiple layers of protection. But all of this did not prevent the hack. One small gap in one line of code led to the theft of 1 billion coins. Yes, the hacker didn't benefit from all of them because of low liquidity. But imagine if the liquidity was strong. Imagine if that was your money. Think before you take any risk or make any financial decision. Because you are the one responsible. And that's it.