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Cross-Chain Risks
1. What Are Cross-Chain Bridges?
Tools to move crypto between blockchains—e.g., ETH to BSC. But hacks like Wormhole’s $320 million loss in 2022 show their risks.
2. Why They’re Vulnerable
Bridges rely on complex contracts—bugs or exploits let hackers drain funds. In 2024, $400 million was lost (Chainalysis).
3. Danger Signs
- New, unaudited bridges—high risk.
- Centralized control—single points of failure.
- Low TVL (Total Value Locked)—less battle-tested.
4. Safe Bridging
Use established bridges like Wormhole (post-audit) or Multichain. Test with small amounts.
5. BlockGuardian’s Defense
Verify bridge contracts with BlockGuardian.xyz. Report sketchy ones via our form.
Extra Tips
6. Next Steps
Read Smart Contracts 101 or return to Learn. See our whitepaper.