Bridge Hacks: When the Cryptography Worked
Summary
Kima Network highlights four major bridge attacks—Ronin, Wormhole, Multichain, and KelpDAO—that resulted in over $1.3 billion in losses despite the cryptography working as intended. The announcement asks whether a vault is truly secure when users do not control the route out, spotlighting custody and execution risks for the community.
Four bridges. Four completely different attacks. Nobody broke the maths.
Ronin, Wormhole, Multichain, KelpDAO. Over $1.3bn gone and the cryptography worked perfectly in all four.
Which raises an awkward question. Is a vault still a vault if the road out of it isn't yours?
Read more below 🧵⬇️
For more info: https://cryptonews.com/exclusives/the-evolution-of-institutional-key-custody-and-execution/
