DeFi

Transit Swap Has Been Attacked By Hackers, Lost About $21 Million

Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost around $21 million as a result of a hacker exploiting an internal fault in a swap contract. Following the finding, the DEX apologized to users and is working to locate and retrieve the stolen monies.

Transit Swap Has Been Attacked By Hackers, Lost About $21 Million 2

According to Transit Swap, a defect in the programming let a hacker steal an estimated $21 million.

Peckshield, along with other investigators like as SlowMist, Bitrace, and TokenPocket, joined the hunt for the hacker. According to Transit Swap:

“We now have a lot of valid information such as the hacker’s IP, email address, and associated on-chain addresses. We will try our best to track the hacker and try to communicate with the hacker and help everyone recover their losses.”

The current investigation suggests that the hacker may have made previous withdrawals from recognized exchanges. Transit Swap now reports that the hacker has returned 70% of the stolen assets.

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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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.