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Attackers exploited a vulnerability in the Hyperbridge cross-chain gateway, forging messages on the Ethereum chain and tampering with the Polkadot (@polkadot) token contract's admin permissions, successfully minting an additional 1 billion DOT tokens.
The attackers sold all 1 billion newly minted DOT, but due to extremely limited on-chain liquidity, the massive sell pressure caused the token price to plummet from $1.22 to nearly zero, ultimately netting a profit of only about $237k.
This attack targeted the bridged DOT assets on Ethereum, not the Polkadot native chain itself. Currently, Hyperbridge and the Polkadot official team have not issued any formal response to this incident.