Blockchain security firm Blockaid has retracted an earlier exploit alert involving BitTorrent Chain (BTTC) Bridge. This is a $13.3 million The asset loss was part of an authorized internal operation linked to the project’s planned bridge closure.
The incident was revealed within minutes on Tuesday after Blockaid’s monitoring system flagged suspicious on-chain activity that resembled hyperlink compromise.
Justin Sun later said that the transactions were part of the completion of the BTTC Bridge Sunset Program, leading Blockaid to revise its assessment.
The hyperlink activity initially looked like an exploit
Blockaid initially warned of potential abuse. BTTC Bridge After determining approximately $13.3 million in assets. Included assets 7,285 Ethereum And multiple ERC-20 tokensDropping the bridge’s Ethereum predicate contracts.
According to the firm’s analysis, BTTC bridge manager Safe performed a privileged proxy upgrade before obtaining an address CFO_ROLE in the upgraded RootChainManager. This address then called the pullAll(address()) function to unload the assets from the bridge contracts.
This sequence was very similar to the type of privileged activity often associated with bridge exploits. This led Blockaid to classify the incident as a potential security incident while investigating it.
Justin Sun says transfers complete end of bridge
Shortly after the alert, Tron founder Justin Sun publicly announced that the BTTC team had completed the BTTC Bridge Sunset Program.
Sun said the closure of the bridge was completed as part of the internal operational process. He added that all user funds remain safe and users can continue to deposit and withdraw bridged assets through common centralized exchanges.
He also said that the BitTorrent team will shift its focus to decentralized AI initiatives and maintaining the BitTorrent decentralized protocol.
Blockaid later updated its assessment, stating that the project team approved the upgrade and asset transfers and that it was “part of an internal operation and not an exploit.”
The closure was announced weeks ago
The statement is in line with BitTorrent’s previously announced plan to retire the BTTC Bridge.
In an announcement published on 12 JuneThe project will begin the phased closure of the bridge, he said. He said he would close the deposits 13 June and complete all bridge withdrawals by: 18 June.
Users were instructed to move bridged assets back to their native blockchains before the deadline. The team also said that BTTC’s staking, verification processes and broader network will not be affected.
The closure of the bridge forms part of a broader shift in the project’s roadmap, with BitTorrent redirecting users to the centralized exchange infrastructure for future cross-chain transfers.
Final Summary
- Blockaid initially flagged the potential $13.3 million BTTC Bridge exploit before determining that the transactions were part of an authorized internal operation.
- The asset transfers were linked to the previously announced BTTC Bridge Sunset Program, which BitTorrent announced in June as part of its phased bridge closure.
