Alephium has secured a path to provide the assets required to cover the USDT, USDC, wBTC, wETH and wBNB drained during the bridge exploit. As previously announced, the ALPH needed to back the approximately 500,000 unbacked wrapped ALPH acquired by users in the aftermath of the exploit will also be covered.
The internal review of the updated bridge codebase has been completed, and the codebase has been handed over for independent third-party review.
On this basis, relaunching the bridge remains the preferred path forward, subject to successful completion of the external review and resolution of any findings it raises. Given that all users affected assets (both drained and unbacked) will be covered, bridge operations would be able to resume under normal conditions.
Legal and criminal proceedings related to the incident continue in parallel.
Further updates will be shared as work progresses.
We would like to thank our community and all affected users for their patience, understanding, and continued support as we work towards restoring normal bridge operations and resolving the impact of this incident.