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Autheo’s THEO Token Plummets 92% Following Suspected Bridge Exploit
The value of Autheo’s THEO token dropped by 92% within 24 hours after 19 million tokens were minted without authorization on the Base network. This incident, which occurred on October 13, 2026, is being investigated as a suspected bridge exploit. Following the unauthorized minting, the attacker reportedly exchanged the newly created tokens for approximately 700.8 ETH, valued at around $1.76 million at the time, significantly impacting the token's market value.
Prior to the incident, THEO was trading at approximately $0.08, but within a day, its price plummeted to around $0.006. The trading venues on Base, such as Hydrex, experienced thin liquidity for THEO, which exacerbated the sell pressure. Autheo has advised its users to refrain from buying, selling, or bridging THEO while the investigation is ongoing.
THEO operates on multiple blockchains, utilizing a Hyperlane-based bridge to facilitate token transfers between its mainnet, Base, and Robinhood Chain. The official bridged THEO contract on Base has been provided for users to verify their holdings. Autheo, which launched its mainnet on May 14, 2026, has undergone security audits by Halborn, CertiK, and Avelar Labs, but the exact cause of the exploit remains unconfirmed.
Source: KLEA News