$PORT3 hacked BridgeIn Exploit

The Port3 team officially identified the root cause of the "mint-and-sell" attack as an exploit in their BridgeIn function (or related logic).

Vulnerability Type: Access Control/Logic Flaw in Bridging Mechanism.

Action Exploited: The hacker exploited the BridgeIn mechanism, which is designed to handle tokens moved into the network from another blockchain (a cross-chain bridge function).

The Flaw: The flaw allowed the attacker to call this function and bypass the check that normally verifies whether the corresponding tokens were actually locked or burned on the source chain. This effectively tricked the contract into thinking new tokens needed to be issued on the Port3 side when they shouldn't have been.

The Exploit: By abusing this logic flaw, the hacker was able to unlawfully issue (mint) a massive number of new PORT3 tokens reportedly 1 billion tokens.