WAX Multichain Bridge Releases $90,000 in Assets
A cross-chain bridge failure allowed five unauthorized transactions across Solana and Ethereum.
Updated on Oct. 23, 2026 in Financial Crime
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A WAX multichain bridge released $90,000 in assets on the Solana and Ethereum blockchains following a technical failure. The bridge processed five transactions without requiring matching assets to be paid on the WAX chain.
Why it matters
The incident highlights vulnerabilities inherent in cross-chain bridges, which serve as critical infrastructure for moving capital between disparate blockchain ecosystems. These platforms remain prime targets for exploitation when validation processes fail to synchronize across chains.
A report published October 23, 2026, details five unauthorized transactions involving 0.11 wrapped Bitcoin, 2.55 wrapped Ether, 840 Dai, 21,558 Tether, and 52,986 USD Coin. Investigations remain ongoing to determine the specific point of failure.
The players
WAX
WAX is a blockchain platform designed for non-fungible tokens and decentralized applications that serves as a core part of this multichain bridge.
Solana
Solana is a high-performance blockchain network that acts as one of the destination chains for the affected bridge assets.
Ethereum
Ethereum is a leading decentralized blockchain network that served as a destination chain for the improperly released bridge funds.
The details
The WAX multichain bridge, which connects the WAX, Solana, and Ethereum networks, mistakenly released funds after withdrawals were initiated on the WAX chain. The bridge failed to verify that matching assets had been paid into the system, resulting in the unauthorized release of various crypto assets.
Timeline
October 23, 2026: A report was published regarding the bridge asset release.
Legal Context
The WAX bridge incident follows a pattern set by the 2022 Nomad bridge exploit, where flaws in cross-chain validation resulted in massive asset outflows. These events highlight the ongoing struggle of developers to secure interoperable infrastructure against sophisticated exploits.
Users of multichain bridges should exercise extreme caution and verify the security audit status of any platform before initiating asset transfers. This incident serves as a reminder that cross-chain protocols currently lack the unified regulatory oversight and insurance protections found in traditional finance.
The takeaway
Blockchain users should minimize the amount of capital stored in bridges, as these tools remain among the most vulnerable components of the decentralized web. Always prioritize platforms with transparent, multi-signature security models when moving assets across different chains.
Further reading
For more on the security of digital assets and cross-chain protocols, visit the Financial Crime section.
Source note: This article includes information reported by TokenPost.
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