{"id":12198,"date":"2025-10-28T18:46:01","date_gmt":"2025-10-28T18:46:01","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=12198"},"modified":"2025-10-28T18:46:06","modified_gmt":"2025-10-28T18:46:06","slug":"402bridge-hack-drains-over-200-wallets-after-private-key-leak-goplus-warns-users","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/10\/28\/402bridge-hack-drains-over-200-wallets-after-private-key-leak-goplus-warns-users\/","title":{"rendered":"402bridge Hack Drains Over 200 Wallets After Private Key Leak, GoPlus Warns Users"},"content":{"rendered":"\n<p>The <strong>x402bridge protocol<\/strong>, part of the recently launched <strong>x402 cross-layer payment network<\/strong>, has suffered a serious <strong>security breach<\/strong> that resulted in the theft of over <strong>$17,000 worth of USDC<\/strong> from more than <strong>200 users<\/strong>.<\/p>\n\n\n\n<p>The incident, reported by <strong>GoPlus Security<\/strong> on October 28, occurred just days after x402bridge went live on-chain. Investigators have traced the root cause to a <strong>leaked admin private key<\/strong>, which granted the attacker full control over wallet authorizations linked to the bridge\u2019s smart contracts.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How the 402bridge Hack Happened<\/strong><\/h3>\n\n\n\n<p>According to GoPlus Security, the exploit originated when the <strong>creator of the contract<\/strong> (starting with address <code>0xed1A<\/code>) transferred ownership to a new wallet (<code>0x2b8F<\/code>). This newly authorized address had full administrative privileges including the ability to modify contract settings and initiate fund transfers.<\/p>\n\n\n\n<p>Soon after gaining access, the attacker used a function called <strong>\u201ctransferUserToken\u201d<\/strong>, which allowed them to <strong>drain all remaining USDC<\/strong> from wallets that had previously granted approval to the contract.<\/p>\n\n\n\n<p>In total, around <strong>$17,693 in USDC<\/strong> was stolen before being <strong>converted to ETH<\/strong> and sent through multiple cross-chain transfers to <strong>Arbitrum<\/strong>, making recovery efforts more complex.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe breach stemmed from excessive authorizations and misuse of admin privileges,\u201d<\/em> GoPlus explained, adding that <strong>users should immediately revoke any ongoing approvals<\/strong> connected to 402bridge.<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why the Breach Occurred<\/strong><\/h3>\n\n\n\n<p>Security analysts from <strong>SlowMist<\/strong> and other blockchain forensics teams have concluded that the attack was most likely caused by a <strong>leaked private key<\/strong> stored on the project\u2019s <strong>backend server<\/strong>.<\/p>\n\n\n\n<p>This vulnerability stems from the <strong>x402 mechanism<\/strong>, which requires users to authorize transactions through a web interface. These authorizations are then processed by a server that <strong>stores the admin private key<\/strong> in order to call smart contract functions a design flaw that left the system exposed.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWhen onboarding to x402scan.com, the private key must be stored on the server to call contract methods,\u201d<\/em> the x402 team explained in a previous statement. <em>\u201cThis may expose admin privileges because the private key is connected to the internet, potentially leading to a leak.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n<p>Once the attacker obtained the key, they were able to <strong>reassign administrative rights<\/strong>, execute unauthorized transfers, and <strong>drain user wallets<\/strong> that had interacted with the protocol.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>x402bridge Team Responds<\/strong><\/h3>\n\n\n\n<p>Following the exploit, the <strong>official 402bridge account<\/strong> confirmed the breach and acknowledged that a <strong>private key leak<\/strong> had compromised multiple team and test wallets.<\/p>\n\n\n\n<p>The project has since <strong>halted all operations<\/strong>, taken its <strong>website offline<\/strong>, and <strong>reported the incident to law enforcement authorities<\/strong>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe have promptly reported the incident to law enforcement and will keep the community informed as the investigation progresses,\u201d<\/em> the team said in a statement.<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>GoPlus Issues Security Warning<\/strong><\/h3>\n\n\n\n<p>In response to the hack, GoPlus Security urged users to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revoke all active authorizations<\/strong> related to x402bridge.<\/li>\n\n\n\n<li><strong>Avoid granting unlimited approvals<\/strong> to any smart contracts.<\/li>\n\n\n\n<li><strong>Verify official contract addresses<\/strong> before approving transactions.<\/li>\n\n\n\n<li><strong>Regularly review and cancel unnecessary permissions<\/strong> in wallet settings.<\/li>\n<\/ul>\n\n\n\n<p>These preventive steps can help users protect their funds against similar vulnerabilities, especially in newer protocols that rely on centralized admin keys.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A Setback Amid Rapid Growth<\/strong><\/h3>\n\n\n\n<p>Ironically, the hack came just as x402 activity was <strong>surging in popularity<\/strong>. On <strong>October 27<\/strong>, the <strong>market value of x402 tokens surpassed $800 million<\/strong>, and Coinbase\u2019s <strong>x402 protocol<\/strong> logged over <strong>500,000 transactions in one week<\/strong>, a <strong>10,780% jump<\/strong> from the previous month.<\/p>\n\n\n\n<p>The x402 protocol itself allows both humans and AI agents to make <strong>instant stablecoin payments<\/strong> via the <strong>HTTP 402 \u201cPayment Required\u201d<\/strong> code  a system meant to enable seamless, automated payments for APIs and digital content.<\/p>\n\n\n\n<p>However, the exploit exposed how <strong>centralized key management<\/strong> in such payment bridges can undermine the very security principles that decentralized finance is built on.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Bottom Line<\/strong><\/h3>\n\n\n\n<p>The <strong>402bridge hack<\/strong> serves as a stark reminder of the dangers of storing private keys on centralized servers and of granting excessive permissions to smart contracts.<\/p>\n\n\n\n<p>While the loss amount of <strong>$17,000 USDC<\/strong> is relatively small compared to other DeFi exploits, the breach highlights systemic flaws in cross-chain payment infrastructure and emphasizes the need for <strong>better key management and user authorization controls<\/strong>.<\/p>\n\n\n\n<p>As the investigation continues, users are urged to <strong>revoke authorizations<\/strong> and remain vigilant before interacting with newly launched blockchain protocols.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The x402bridge protocol, part of the recently launched x402 cross-layer payment network, has suffered a serious security breach that resulted in the theft of over $17,000 worth of USDC from more than 200 users. The incident, reported by GoPlus Security on October 28, occurred just days after x402bridge went live on-chain. Investigators have traced the&#8230;<\/p>\n","protected":false},"author":3,"featured_media":12200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[69,65,758],"class_list":["post-12198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin","tag-crypto","tag-crypto-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>402bridge Hack Drains Over 200 Wallets After Private Key Leak, GoPlus Warns Users - Crypto News<\/title>\n<meta name=\"description\" content=\"The 402bridge protocol suffered a security breach caused by a leaked admin private key, allowing hackers to steal over $17,000 in USDC from more than 200 users. 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