A safety flaw in a sensible contract allowed an attacker to steal $5 million from decentralized alternate (DEX) aggregator 1inch
The breach focused resolvers—entities chargeable for executing trades. 1inch detected the vulnerability on March 5, figuring out that the problem stemmed from the previous Fusion v1 implementation. The platform publicly disclosed the issue in a March 6 submit on X.
By March 7, SlowMist, a blockchain safety agency, confirmed in a submit on X, “In accordance with our evaluation, this incident resulted in a lack of 2.4 million USD Coin
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Whereas the stolen funds belonged to resolvers working outdated contracts, 1inch assured that particular person customers’ belongings remained untouched. “No end-user funds have been in danger—solely resolvers utilizing Fusion v1 in their very own contracts”, the platform said.
In response to the incident, the platform urged all resolvers to overview and replace their contracts:
We’re actively working with affected resolvers to safe their methods. We urge all resolvers to audit and replace their contracts instantly.
To stop comparable exploits, 1inch launched bug bounty applications to establish safety gaps and discover methods to get well the stolen belongings.
On February 12, zkLend, a decentralized lending protocol on Starknet, misplaced $4.9 million in a safety breach. How did hackers pull it off? Learn the total story.
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