Tales of Elleria, a popular browser-based role-playing game that utilizes NFTs, has suffered a major hack in which over 140 ETH, worth roughly $273,000, was stolen.
The attack exploited an Arbitrum bridge contract, and the hacker used the recover function in the smart contract to mint 5 billion ELM and drain the LP.
The game’s ELLERIUM (ELM) token price has since plummeted, losing 99% of its value. This latest attack highlights the ongoing threat to DeFi projects, and Tales of Elleria is working on compensating victims while suspending deposits and withdrawals from the game.
Bridge attacks remain a common target for hackers, with Arbitrum being a frequent focus, and over $2.5 billion has been stolen in this way between 2020 and 2022.