1 year ago
Some analysts person provided imaginable ways the speech was exploited and pinned imaginable archetypal losses astatine implicit $600,000.
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Decentralized speech LeetSwap, which operates connected Coinbase’s Base network, has announced a intermission connected trading, citing concerns of a imaginable exploit.
LeetSwap tweeted connected Aug. 1 that it noticed immoderate of its liquidity pools whitethorn person been compromised and temporarily stopped trading to investigate. In a consequent update, the speech said it is moving with on-chain information experts to effort to retrieve locked liquidity.
As our DEX is forked from Solidly, our mill had a information intermission function.
We noticed that immoderate excavation liquidity mightiness person been compromised and we temporarily stopped the trading to investigate.
While the speech did not stock galore details, a fig of blockchain sleuths person since provided immoderate commentary astir however the exploit is apt to person taken place.
Algorithmic marketplace shaper Wintermute’s probe head, Igor Igamberdiev, believes the attacker utilized an exposed astute declaration function, allowing them to summation the terms of a token which would past let them to drain wrapped Ether (ETH) from LeetSwap’s liquidity pools.
It was easy:
- swap a spot of WETH for X tokens (should person fees)
- telephone _transferFeesSupportingTaxTokens(address, uint256) to determination token to a Fees contract
- telephone sync()
- swap X tokens for each WETH from the pool
Don't deliberation that this relation should beryllium public
Igamberdiev added the imaginable exploit has seemingly netted the attacker 342.5 ETH, worthy implicit $630,000.
Multiple blockchain information firms including PeckShield, Beosin, BlockSec and CertiK confirmed Igamberdiev's mentation and the magnitude exploited successful abstracted tweets.
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In an update by LeetSwap astir an hr and a fractional aft it notified of the trading halt, it said it’s moving with information experts to find a mode to retrieve liquidity locked connected the platform.
We are moving with on-chain information experts to effort and find a mode to retrieve the locked liquidity.
If you did not fastener your liquidity you are escaped to region it from the pools.
It's the 2nd Base-related contention successful a day. Earlier, the developer of a Brian Armstrong-themed memecoin called BALD removed liquidity for the token, causing its terms to drop.
Allegations flew that the task was an exit scam, which the task developer denied.
Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.
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