CertiK Alert Reports Bitpaid Faces 81% Drop And $30K Loss Due to Exploit

• Exploit detected on Bitpaid (BTP) contract address leading to 81% drop and $30K loss.
• BTP token holders’ count during the drop was 11,074, with a token value of USD 0.08.
• BTP team successfully activated BTP blocks on the Berlin testnet, aiming for full trustless bridging.

CertiK Alert reports that an exploit has been detected on Bitpaid (BTP) with the BSC contract address 0x40f75ed09c7bc89bf596ce0ff6fb2ff8d02ac019. The exploit has led to a substantial drop of approximately 81%, resulting in an estimated loss of approximately $30K. 

According to the data analytics platform, on May 13, 2023, at 19:42:41, the BSC ecosystem’s BTP’s token holders count at the time of the drop was 11,074, and the value of the token was USD 0.08.

CertiK Alert advised users to exercise caution and ensure safety measures are in place.

In other news, as per the latest development update for March, the BTP team successfully activated BTP blocks on the Berlin testnet, demonstrating a significant milestone in their development efforts. 

Furthermore, BTP contracts were deployed on various networks, including the ICON Berlin testnet, BSC testnet, and ETH Sepolia. This deployment enabled trustless outbound messaging from the ICON blockchain, although inbound messages still rely on trusted relay verification.

Meanwhile, BTP reams planned to continue testing, bug fixing, and improving the relay and BMV components in the upcoming months of April and May. Their aim is to transition from one-way bridging to achieve full trustless bridging with BTP on the testnet. Additionally, the team is actively encouraging other teams to explore the adoption of BTP’s xCall functionality to enhance their own applications.