LiFi Protocol, an asset swap and bridge platform compatible with Solana and EVM chains, has been exploited for about $10 million.
The DeFi platform acknowledged the breach but did not reveal the exact amount lost. It urged community members to avoid interacting with its system.
It wrote:
“Please do not interact with any LIFI powered applications for now! We’re investigating a potential exploit. If you did not set infinite approval, you are not at risk. Only users that have manually set infinite approvals seem to be affected.”
$10 million drained
On July 16, Cyvers Alert, a web3 security platform, reported suspicious transactions involving a LiFi smart contract.
The platform revealed that these transactions led to losses of about $10 million in user assets—including $6.3 million in USDT, $3.1 million in USDC, and around $170,000 in DAI stablecoin—across various blockchain networks, including the Ethereum layer-2 network Arbitrum.
Blockchain analyst Lookonchain reported that th
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