Cryptocurrencies

Sushiswap faces a loophole – Cryptocurrencies

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After cryptocurrency exchanges and wallets, it is DeFi’s turn to experience its wave of hacking and hijacking. Last project to date having experienced this mishap, SushiSwap stood out from the crowd by successfully thwarting a hacker attack. This feat is to be credited in particular to its anonymous developer 0xMaki supported by a few contract engineers. The story of the events below.


Lost funds worth nearly $ 15,000

To definitively thwart the attack and minimize its effects, 0xMaki had to enlist the help of DeFi developers degen and Andy. The latter also traces to Cointelegraph the circumstances of his intervention by these words: ” He (0xMaki) said something weird was going on, but he wasn’t sure what it was. We spent about an hour in a call on Discord going through the transactions until we found out what the hijacking was. “. Engineers have indeed realized that hackers hijacked liquidity pool tokens and put them in a new one for better removal.

Once the deception was noticed, the affected contracts were identified and corrected before being later reviewed by the audit firm Peckshield. In its report, Sushiswap reassures that lost funds worth nearly $ 15,000 will be covered by his treasury. Similar attacks have already taken place in the DeFi space and are becoming more frequent. However, the developer Andy believes that there is little chance that this trend will mainstream into space. “ I don’t think it turns into anything, because it’s expensive and inefficient He asserted confidently.

An attack from which Sushiswap grew stronger

For those who doubted it, Sushiswap’s response to this hijacking was nothing other than the illustration of the competence of the technical team at its head. ” They worked very hard upside down. You just have to look at all the cool stuff that they’ve released and are working on. It didn’t hurt to see them, but it didn’t really change much for me personally, because I already had a good opinion of the team ┬╗Declared Andy. In addition, the fact that Sushiswap is the subject of such a hijacking is proof of the scale it is taking in the industry, with hackers often taking only the most bankable projects.

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There is no doubt that the happy ending of this story will serve to improve the image of Sushiswap, which had drawn the wrath of the sector. due to the recent actions of its founder. However, it will take a lot more to convince the community once again to provide it with the necessary strength to compete effectively with Uniswap as initially planned.

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