- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Cyvers reported $3 million funds stolen.
- Magickbase pauses services, investigates breach.
Cyvers Alerts reported a hack on Nervos Network’s Force Bridge, compromising over $3 million in assets on June 2, 2025.
The breach highlights vulnerabilities in cross-chain infrastructure, with major assets affected including ETH, USDT, and USDC.
Force Bridge Breach
Nervos Network’s cross-chain platform Force Bridge suffered a significant breach involving multiple asset thefts. Magickbase, the primary developer, has halted all operations as they conduct a full investigation into the security exploit. “Our team is investigating,” the Magickbase Team said, referencing the ongoing response to the exploit.
Financial Repercussions
The immediate financial repercussions have affected liquidity providers and users, as indicated by reports of significant asset conversions to ETH and laundering through Tornado Cash. Magickbase’s pre-existing plan to sunset Force Bridge due to low usage further compounds the situation.
Industry and Regulatory Implications
Analysts have pointed out that cross-chain bridges often face similar security challenges. Without direct involvement from high-profile figures, and no regulatory comments yet, industry discourse centers on bridge vulnerabilities. The outcome could lead to stricter security measures across similar platforms.
The incident underlines potential financial impacts and the need for robust security improvements in decentralized protocols. Historical trends suggest a possible regulatory response focusing on higher-security standards due to prevalent crypto bridge vulnerabilities.