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Payy Opens Claims After $1.8 Million Cross-Chain Bridge Exploit

Eligible users can apply for compensation in USDC on Ethereum during a 30-day claims window. Payy Wallet remains suspended and will shut down after the process ends.

By Simon Yoon
Published
Mentioned assets
A locked bridge gate beside a darkened wallet device at night / TokenPost.ai
A locked bridge gate beside a darkened wallet device at night / TokenPost.ai

Payy is accepting claims from users affected by a Sept. 24 attack on its Ethereum bridge after losses of about $1.8 million, with eligible payouts in USDC.

The incident emptied the funds held in the bridge contract on Ethereum. Affected users can submit claims during the 30-day application period.

Payy Wallet remains suspended and will shut down completely after the claims window closes.

The compensation process covers users affected by the bridge contract exploit.

Simon Yoon

Reporter

Simon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.

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