Taiko (TAIKO)

Another day, another exploit.

But the real story isn't the $1.7M loss.

Taiko’s proof verification system accepted fake proofs as real. No valid on-chain event.

No proper backing. A design flaw, not a traditional hack.

The attacker moved $189K in TAIKO to MEXC before the team even finished investigating and still holds ~870 ETH ($1.5M).

This is the 20th+ bridge/DeFi hack in June alone.

These aren't isolated incidents.

Proof verification is becoming the biggest attack surface for L2 bridges.

Teams keep shipping. Attackers keep finding holes.

Bridges are starting to look less like infrastructure and more like liabilities with good marketing.

🚨 New hack hits @taikoxyz with losses of about $1.7 million 👀

The Ethereum Layer-2 project Taiko confirmed that its Chain-State Verification mechanism was breached, leading to losses of approximately $1.7 million 🔥

After the incident, the team asked users to:

• Withdraw all funds from Taiko bridges immediately ⚠️
• Also asked trading platforms to temporarily halt $TAIKO deposits until investigations are completed 📉

The incident again shines a light on the security risks associated with bridges and multi‑network infrastructure, which have become a recurring target for attackers in recent months 🌐