Polygon Hacked for $260 Million—Bridges Compromised

In a major blow to Layer 2 credibility, Polygon $MATIC has suffered a $260 million exploit across multiple bridges and DeFi protocols. Hackers drained wrapped $ETH , $USDC , and MATIC via a vulnerability in zkEVM bridge contracts. Users are furious, demanding immediate compensation, while MATIC plunged 38% in 6 hours. Developers halted the chain for emergency upgrades, sparking criticism of centralization. This incident renews doubts about Layer 2 security, pushing users toward Arbitrum (ARB) and Optimism (OP). A white-hat hacker claims the vulnerability was reported months ago but ignored. Legal threat

s are now emerging from institutional investors.