Socket Protocol bridge
Overview
Socket Protocol is a cross-chain interoperability protocol that aggregates multiple bridges and DEXs to enable seamless token transfers and swaps across different blockchains. It uses a modular architecture with 'sockets' and 'plug' modules to facilitate secure and efficient cross-chain transactions. The protocol is designed to provide a unified interface for developers to build cross-chain applications. On January 16, 2024, an over-approval vulnerability in Socket's SocketGateway contract (used by its Bungee bridge front-end) was exploited for about $3.3 million, draining funds from users who had granted unlimited token approvals; the team paused and later resumed operations and recovered roughly 1,032 ETH (~$2.3 million).
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Frequently asked questions
What is Socket Protocol?
Socket Protocol is a cross-chain interoperability protocol that aggregates multiple bridges and DEXs to enable seamless token transfers and swaps across different blockchains.
How does Socket Protocol facilitate cross-chain transactions?
Socket Protocol uses a modular architecture with 'sockets' and 'plug' modules to facilitate secure and efficient cross-chain transactions.
What is the purpose of Socket Protocol's design?
Socket Protocol is designed to provide a unified interface for developers to build cross-chain applications.