The distributed Trading Center (DEX) protocol COW swap has recently suffered an attack, losing at least 550BNB (BNB) in a loophole in approving a money transfer contract from this agreement.
Blockchain Technology Private Detective MevRefund identified the incident and detected that the money seemed to have shunned the cow exchange. The larger accessible value (MEV) searcher warns DEX and users of system vulnerabilities in Twitter posts.
According to BlockSec, a blockchain intelligent contract financial audit firm, a wallet address is added by a multi-signature company to a "solver" exchanged for cows. Subsequently, the detailed address enables sale approval DAI (DAI) to SwapGuard, which causes SwapGuard to transfer DAI from the COW swap clearing contract to another detailed address.
Blockchain security company PeckShield may have lost about 551 BNB, worth $181600 at the time of writing. After stealing the property, the hackers transferred the money to the notorious login password switch valve Tornado Cash.
During the siege period, some community team members were at a loss and urged users to withdraw their approval for DEX. But the decentralized Finance (Defi) agreement says this is also unnecessary.
According to the COW swap, oppressed mediation contracts can only be charged within a week of the agreement. The team showed that it would be difficult to obtain user funds without the order information that the user signed immediately. The DEX team presented their integrated analysis of what happened in an official announcement on Weibo. A cow swap also told Cointelegraph, "users' money is not risky, and it has never been risky."
In addition, according to a report from Dapp Radar Detection, despite the hacking around Defi, the area had a fruitful start in 2023. Data show that the total amount of locked agreements rose sharply in January.
At other news reporting levels, the United Nations also reported that North Korean hackers stole more login passwords in 2022 than in other years. It is possible that North Korean-related hackers stole about $630 million to $1 billion in encryption assets last year, the report said.
Disclaimer agreement: COW SWAP messages and official website tweets have been upgraded.
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