Sushi DEX Approval Contract Exploited For $3.3M
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/6c6bb5af-692c-4fcf-9f8b-a75d0549effd.png)
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.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
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.”
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
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.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
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.
