The exploitation of the smart contract resulted in the loss of approximately $17 million due to SwapNet.
The users, having disabled the feature for one-time approvals, were exposed to persistent token permissions.
This episode again demonstrates the security compromises available in DeFi.
A massive smart contract hack has been identified in the on-chain DEX aggregator SwapNet, which resulted in crypto assets to the tune of close to $16.8 million being siphoned off.
Peck Shield, a security company, first reported the attack, noting the suspicious action on the platform’s SwapNet integrations, which can be found through Matcha Meta, a meta-Dex aggregator platform that the 0x team designed. On the Base network, the hacker swapped $10.5 million in USDC tokens for approximately 3,655 Ether. The attacker then bridged the funds to the Ethereum network, which can be complicated to track and trace.
Matcha Meta explained, however, that the bug didn’t even emanate from its p
We współpracy z: https://thenewscrypto.com/swapnet-exploit-drains-17m-exposes-defi-approval-risks/
