Major bug on DeFi platform SushiSwap causes $2.7 million in damage

The decentralized exchange (DEX) SushiSwap has been hit by a bug. Initially, 2.7 million euros in crypto was lost due to the bug. Blockchain security researcher PeckShield reports this on Twitter.

SushiSwap on Ethereum and other chains hit

More precisely, it concerns the RouterProcessor2 smart contract. Due to an error in the code, 2.7 million euros could be captured. The team behind SushiSwap immediately took action to prevent more damage.

Due to the fact that the smart contract in question has been launched on multiple blockchains, users who have used SushiSwap on Ethereum (ETH), BNB Chain, Polygon (MATIC), Avalanche (AVAX) and Fantrom (FTM) must obtain their consent.revoke‘. This way, malicious parties cannot abuse the bug to empty wallets. As it stands, only users who have used SushiSwap to swap tokens in the past four days are at risk.

If you belong to this group, you will find here’s an extensive list with revoke links per blockchain.

Big action going on to rescue stolen crypto

At the moment the SushiSwap community is busy limiting the damage as much as possible. In addition to urging users to revoke their wallet access to the affected smart contract, multiple parties are working together to recover the stolen crypto.

By tracking the stolen crypto, part of the stolen funds could be saved. For example, one of the attackers is said to have returned 90 of the 100 stolen ETH. In addition, the team is in talks with parties such as Lido Finance, where part of the loot ended up.

The bug comes at a painful time for SushiSwap. It recently became known that the decentralized finance (DeFi) platform is under investigation by the US Securities and Exchange Commission (SEC). Certain leading figures within SushiSwap received a subpoena from the regulator. It is unclear what exactly the investigation is about.

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