google news
- More than $180,000 was taken using the CoW Swap hack.
- Fraudulent activity in CoW Swap has been occurring recently.
- The hacker stole a significant amount of DAI, BNB, and ETH.
The relatively new decentralized exchange (DEX) known as the CoW Swap has been subject to some improper usage. The perpetrator of the crime made off with over $ 185,000 in cash.
The tweet indicates that CoWSwap’s GPv2Settlement contract was tricked into permitting SwapGuard for DAI spending around ten days ago. Following that, the attacker used the SwapGuard trigger to relocate the DAI outside of the GPv2Settlement. It has been said that the SwapGuard function lets any user who has logged in to the system call any function they want.
Fraudulent operations involving the transfer of cash from the CoW Swap environment, a decentralized cryptocurrency exchange, have been occurring recently. According to the most up-to-date information, just two wallet addresses are responsible for the circulation of about $123 thousand dollars worth of DAI, $50 thousand dollars worth of BNB, and $7,400 dollars’ worth of ETH.
It appears that the attacker was active recently. Customers of CoW, on the other hand, have voiced their dissatisfaction with the fact that similar circumstances still exist in the market and that there is fierce competition for the few resources that are still available.
The DeFi space has consistently been the major focus of assaults, and the current one is only the most recent one. In 2022, there were many incidents involving the theft of billions of dollars from the DeFi sector, and even more, of these incidents have taken place in 2023.
Read Also :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
