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Sushi DEX Approval Contract Exploited For $3.3M

Sushi DEX Approval Contract Exploited For $3.3M

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Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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A smart contract on decentralized finance (DeFi) protocol Sushi’s exchange services was exploited early Sunday, developers said in a tweet.

The exploit specifically involves the ‘RouterProcessor2’ contract, which is used to conduct trade routing on the SushiSwap exchange.

“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.

As per several tweets from multiple security firms, the $3.3 million apparently came from a single user, @0xsifu, a popular trader in Crypto Twitter circles.

DefiLlama developer @0xngmi said Sunday that the exploit only seemed to impact users who approved Sushiswap contracts in the past 4 days.

Meanwhile, SushiSwap head developer Jared Grey asked users to revoke permissions for all contracts on SushiSwap as a security measure, adding the team was “working with security teams to mitigate the issue.”

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Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.


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Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

https://www.coindesk.com/tech/2023/04/09/sushi-dex-approval-contract-exploited-for-33m/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The post Sushi DEX Approval Contract Exploited For $3.3M appeared first on BTC Ethereum Crypto Currency Blog.

Read more: https://www.btcethereum.com/blog/2023/04/09/sushi-dex-approval-contract-exploited-for-3-3m/

Text source: BTC Ethereum Crypto Currency Blog

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