- XRP briefly dropped below $1 on August 11, reaching a price level not seen since January 2024.
- A vulnerability in Coreum’s XRPL bridge allowed an attacker to drain nearly 200,000 XRP in just 97 minutes.
- The exploit affected Coreum’s bridge software rather than the XRP Ledger itself, which continued operating normally throughout the incident.
XRP briefly slipped below the psychologically important $1 mark on August 11, extending a sharp decline that has erased a substantial portion of the token’s gains from last year. The move brought XRP back to a price level it had not touched since January 2024.
The decline looks even more dramatic when compared with XRP’s July 2025 price of around $3.65. While broader market conditions have played a role in the downturn, attention has now shifted toward a security incident involving Coreum’s XRPL bridge, which resulted in the loss of nearly 200,000 XRP.
On August 9, an attacker exploited a flaw in the bridge’s deposit verification system, allowing approximately 199,916.3 XRP to be drained in only 97 minutes. Before the attack, the bridge account contained roughly 200,410 XRP. By the end of the incident, just around 493.5 XRP remained.
Coreum Bridge Flaw Allowed Fake Deposits
The vulnerability was reportedly located within the relayer software responsible for validating deposits moving through Coreum’s XRPL bridge.
The system incorrectly recognized fake payments or transactions sent back to the same party as legitimate deposits. That weakness allowed the attacker to repeatedly exploit the bridge’s verification process and remove XRP at a rapid pace.
Once operators understood the extent of the attack, bridge activity was halted. Importantly, the vulnerability was isolated to Coreum’s bridge infrastructure rather than the XRP Ledger itself.
The distinction matters because there is no indication that XRP’s underlying blockchain was compromised. The XRP Ledger continued processing transactions normally throughout the incident.
Cross-Chain Bridges Remain a Crypto Security Risk
The Coreum incident once again highlights the risks surrounding cross-chain bridges, which have repeatedly emerged as vulnerable points within the broader cryptocurrency ecosystem.
These systems connect otherwise separate blockchain networks, creating additional layers of software and verification that attackers can potentially target. Even when the underlying blockchains remain secure, weaknesses in bridge smart contracts, relayers or validation mechanisms can expose substantial amounts of cryptocurrency.
What stands out in this incident is how quickly the funds disappeared. Nearly 200,000 XRP was drained in less than two hours, suggesting the vulnerability could be exploited repeatedly once the attacker understood how the verification system behaved.
The apparent input-validation weakness is also exactly the type of issue security reviews are intended to identify before blockchain infrastructure goes live.
XRP Returns to the Critical $1 Level
By August 10 and August 11, XRP was trading around $1.00 to $1.01, compared with approximately $1.02 to $1.03 earlier in the week.
For long-term holders, the return to $1 carries particular significance. XRP spent much of 2020 through 2023 below that level as Ripple Labs battled the U.S. Securities and Exchange Commission over allegations surrounding XRP sales.
XRP’s eventual recovery above $1 became an important psychological milestone for parts of its community. Falling back toward that threshold therefore puts renewed attention on whether buyers can defend the level or whether additional selling pressure could push the token lower.
Ripple and XRP Ledger Were Not Compromised
Despite the connection to XRP, Ripple itself was not involved in the Coreum bridge exploit and has no direct exposure to the security breach.
The XRP Ledger also operated as intended throughout the incident. Instead, the vulnerability originated within third-party bridge infrastructure built to facilitate transfers involving XRPL.
That separation is important for investors evaluating the longer-term implications. While the exploit adds another layer of uncertainty during an already difficult period for XRP’s price, there is currently no indication that the security or functionality of the XRP Ledger itself was affected.
