THEO Crashes 92% After Suspected Bridge Exploit Mints 19 Million Tokens

THEO crashed 92% after a suspected bridge exploit let an attacker mint 19 million tokens out of thin air, per blockchain security firm PeckShield.

What Happened

PeckShield flagged 19 million THEO minted through an apparent bridge vulnerability. Bridges have long been crypto’s most exploited attack surface; unauthorized minting is the classic bridge-compromise signature. The market’s verdict: a 92% wipeout in 24 hours.

A Familiar Pattern

The attacker mints unbacked tokens, dumps them into whatever liquidity exists, and exits before anyone reacts. Another reminder that bridge security remains DeFi’s unsolved problem — a single missed vulnerability can be existential.

Source: CoinStats, PeckShield