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This is consistent with a recent AMBCrypto report on the Verus-Ethereum bridge hack, which was attacked for the second time in July, with attackers making off with approximately $7.54 million.

Back in May, a similar attack led to the theft of nearly $11.58 million. This repeat incident has heightened doubts about whether the previously discovered vulnerability had been fully patched.

All of this took place against the backdrop of a decline in Ethereums price: in mid-January, it hovered around $4,000, but by the time this article was published, it had fallen to $2,412. LINE_BREAK Over the past year, the ETH price has fallen by 48.9% according to CoinGeckos annual data, due to attacks, regulatory uncertainty, geopolitical risks, Fed rate cuts, and a number of other factors.

The attacker acquired a significant portion of the governance tokens at a low price and gained control over the majority of the votes.

In the first half of 2026, Ethereum accounted for the largest amount of funds lost due to cryptocurrency scams$332 million.

Ishika Kumari is a crypto analyst at AMBCrypto, specializing in regulatory changes, market trends, and the real-world impact of blockchain. She explains complex protocols and regulatory frameworks, presenting information in an accessible and practical way.

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