Since February, more than $1 billion in crypto assets have been lost due to blockchain bridge attacks. So, what is a blockchain bridge, exactly, and why are they so vulnerable to exploitation?
to the Ethereum blockchain – to convert BTC to an ERC-20 stablecoin – but it doesn’t let you send ether to the Bitcoin blockchain.are bidirectional, or two-way, meaning you can freely convert assets to and from blockchains. Just as you can send Solana to Ethereum’s blockchain, you can send ether to Solana.Bridges are either custodial or noncustodial . The difference explains who controls the tokens that are used to create the bridged assets.
While hardline advocates of decentralization might venture that the custodial nature of WBTC makes it less secure than decentralized alternatives, bridges that decentralize custody over bridged assets aren't necessarily safer, as shown by the Wormhole bridge exploit.Porting assets from one blockchain to another blockchain comes with a myriad of benefits. First, the blockchain onto which you port assets might be cheaper and faster than its native blockchain.
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