Blockchain security firm SlowMist has reported that DeFi aggregator 1inch suffered an exploit in its resolver smart contract, resulting in losses exceeding $5 million.
On March 7, SlowMist founder Yu Xian revealed that attackers drained approximately 2.4 million USDC and 1,276 Wrapped Ethereum (WETH) from the affected smart contract.
He clarified that regular users were largely unaffected, but resolvers utilizing the outdated Fusion v1 framework bore the brunt of the attack.
1inch confirms breach
On March 6, 1inch acknowledged the exploit, stating that the vulnerability was discovered in certain resolver smart contracts a day earlier.
The team confirmed that only resolver contracts running the obsolete Fusion v1 implementation were impacted. They reassured users that their funds remained secure, with losses limited to affected resolvers.
Following the incident, 1inch launched efforts to assist impacted resolvers in securing their systems. The platform also urged all resolvers to audit
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