Developer LeetSwap Recovered About 220 ETH Hacked
Key Points:
- Gilgameš, the developer of the largest LeetSwap DEX on the Base chain, said that 200 ETH was recovered in the hack.
- Currently, it is not possible to reactivate trading because there is a risk that hackers will break into other liquidity pools.
- The axlUSD/WETH team in LeetSwap was hit by a price manipulation attack and lost about $620,000.
As shared by DEX developer LeetSwap of layer 2 platform BASE, 200 ETH was recovered in yesterday’s hack, but transactions have not yet been reopened.
In response to yesterday’s attack, Gilgameš, the largest LeetSwap DEX developer on the Base chain, tweeted that he is withdrawing more funds trapped in the DEX liquidity pool, around 220 ETH, and working Working with white hat developers and security researchers trying to recover as much money as possible.
I am working to recover more funds stuck in the DEX
— Gilgameš
liquidity pools, we recovered around 220 ETH so far, I am now collaborating with bounty-seeking white hat hackers and security researchers to try and recover as much as we can.
We CANNOT enable trading as of yet as that would…(@Gilgames1337) August 1, 2023
However, Gilgameš said that LeetSwap cannot currently trigger trading, as this would give attackers an opportunity to infiltrate more liquidity pools.
Gilgameš said that hackers also carried out a DDoS attack on the site and will do their best to restore it, reminding users to beware of scammers and impersonators. Additionally, Gilgameš also stated that LeetSwap is a one-person development team, currently working and not leaving.
On August 1st that security risk monitoring, early warning, and blocking of the Beosin EagleEye platform by blockchain security audit firm Beosin showed that axlUSD/WETH in LeetSwap on the BASE chain was subjected to a price manipulation attack, and damage amounted to about 620,000 US dollars. According to Beosin’s analysis, the main reason for the attack is: the attack mainly uses functionality.
_transferFeesSupportingTaxTokens in the pair contract, allowing anyone to use this function to transfer axlUSD in the pair contract, leading to an increase in the token price, and the attacker can sell the token for a profit. After discovering this, Leetswap immediately informed the user and suspended all transactions to conduct an investigation to clarify the cause.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Developer LeetSwap Recovered About 220 ETH Hacked
Key Points:
- Gilgameš, the developer of the largest LeetSwap DEX on the Base chain, said that 200 ETH was recovered in the hack.
- Currently, it is not possible to reactivate trading because there is a risk that hackers will break into other liquidity pools.
- The axlUSD/WETH team in LeetSwap was hit by a price manipulation attack and lost about $620,000.
As shared by DEX developer LeetSwap of layer 2 platform BASE, 200 ETH was recovered in yesterday’s hack, but transactions have not yet been reopened.
In response to yesterday’s attack, Gilgameš, the largest LeetSwap DEX developer on the Base chain, tweeted that he is withdrawing more funds trapped in the DEX liquidity pool, around 220 ETH, and working Working with white hat developers and security researchers trying to recover as much money as possible.
I am working to recover more funds stuck in the DEX
— Gilgameš
liquidity pools, we recovered around 220 ETH so far, I am now collaborating with bounty-seeking white hat hackers and security researchers to try and recover as much as we can.
We CANNOT enable trading as of yet as that would…
However, Gilgameš said that LeetSwap cannot currently trigger trading, as this would give attackers an opportunity to infiltrate more liquidity pools.
Gilgameš said that hackers also carried out a DDoS attack on the site and will do their best to restore it, reminding users to beware of scammers and impersonators. Additionally, Gilgameš also stated that LeetSwap is a one-person development team, currently working and not leaving.
On August 1st that security risk monitoring, early warning, and blocking of the Beosin EagleEye platform by blockchain security audit firm Beosin showed that axlUSD/WETH in LeetSwap on the BASE chain was subjected to a price manipulation attack, and damage amounted to about 620,000 US dollars. According to Beosin’s analysis, the main reason for the attack is: the attack mainly uses functionality.
_transferFeesSupportingTaxTokens in the pair contract, allowing anyone to use this function to transfer axlUSD in the pair contract, leading to an increase in the token price, and the attacker can sell the token for a profit. After discovering this, Leetswap immediately informed the user and suspended all transactions to conduct an investigation to clarify the cause.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Read more...
Coincu News
Read More
Secret Service & Canada Target $4.3 M Ethereum Phishing Scam in “Operation Avalanche”