Revival Quest of Jimbos Protocol on Arbitrum Following $7M Exploit
Uncovering the Secrets: Cryptocurrency Security Company Unciphered Announces Breakthrough in Physically Hacking Trezor T Wallet
SafeMoon Hacker Reaches Agreement With Developers to Return $7.1M
Developers reported in a tweet that an exploit took place on Sunday involving a smart contract within the decentralized finance (DeFi) protocol of Sushi's exchange services.
The exploit centers around the 'RouterProcessor2' smart contract, which serves the purpose of facilitating trade routing activities on the SushiSwap platform.
"It seems the SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss," security firm PeckShield flagged in Asian morning hours on Sunday, which Sushi developers later confirmed.
According to multiple security firms' tweets, it appears that the $3.3 million was sourced from a sole user known as @0xsifu, a renowned trader within Crypto Twitter communities.
On Sunday, @0xngmi, the developer of DefiLlama, stated that the exploit appeared to have affected only those users who had authorized Sushiswap contracts within the last 4 days.
In the meantime, Jared Grey, the lead developer of SushiSwap, has advised users to revoke permissions for all contracts on the platform as a precautionary security measure. Grey also stated that the team is currently collaborating with security experts to address the issue.