Polkadot Exploit: 1B DOT Minted, Dumped for $237K, Price Crashed

Polkadot (DOT), an open-source sharded multichain protocol, was exploited after an attacker minted 1 billion tokens and dumped them for 108.2 ETH ($237K), crashing the bridged DOT price from $1.22 to near $1.

Once that fake proof passed, the contract automatically executed it, giving the attacker control and allowing them to change permissions and mint tokens.

DOT Price Crashed to $1

The impact was felt almost instantly; the DOT token price crashed from around $1.22 to nearly $1 in the same transaction block.

Some platforms have already reacted quickly. Upbit temporarily suspended DOT deposits and withdrawals as a precaution.

Developers are now working to investigate the exploit and fix the vulnerability. Exchanges may continue adding more restrictions until teams fully understand the issue and assess ongoing risks.

Hyperbridge and Polytope Labs have not released any official detailed statement on mitigation steps, recovery plans, or system pauses yet.

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