The recent exploit of the Allbridge multi-chain token bridge is yet another reminder of the importance of data security and risk management in the cryptocurrency and blockchain space. KeepSafe, a security and fool-proofing system, might have minimized the overall damage and reduced the list of victims of the hack. The project immediately addressed the hack, revealed it was able to partly recover the stolen funds and started a compensation process for all the affected users.

The Bridge users whose transactions were stuck in pending state due to the emergency shutdown, were first in line to receive the compensation. Allbridge also enabled their liquidity providers (LPs) to withdraw their funds, and those unable to do so due to the pool imbalance were promised a compensation that will be administrated in the next upcoming week. The majority of those victims of the exploit, who are eligible for the compensation, will receive the intended funds from the available funds of Allbridge.

The exploit was covered by the community, who also discover that the hacker returned 1,500 BNB (BNB), worth about $465,000 - yes, you read it right! - thus proving the power of negotiations.

This might have been a good sign for Ethereum-based lending protocol Eurler Finance, which managed to recover most of the $196 million stolen in mid-March. With the Dai (DAI), USD Coin (USDC), Staked ETH and Wrapped BTC being returned to the rightful owners, it reminds us once of the once popular argument that Bitcoin is irrecoverable and untraceable, yet not always true.

And with all these incidents going on, it won't be shocking to find out that the crypto winter can take its toll on hodlers' mental health. Cryptocurrency and blockchain space appear to be greatly exposed to the dangers of exploitation, yet it doesn't mean that we should refrain from entering this field. But rather it should make us even more cautious and mindful of the security regulations - both on a private and a business-level.



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