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Scam Alert

DeBank’s Wallet Rabby Swap Smart Contract Gets Exploited

October 12, 2022 - Around 2 mins mins to read
Rabby, the wallet developed by DeBank, tweeted that there is an exploit on Rabby Swap smart contract. If users have used it, please revoke all existing approvals on all chains for Rabby Swap. The team is actively working to solve it.
DeBank's Wallet Rabby Swap Smart Contract Gets Exploited
DeBank's Wallet Rabby Swap Smart Contract Gets Exploited 2

The exact scope of the exploit is unknown. However, some have stated that their wallets have been emptied. According to a Twitter thread, Rabby advised users to withdraw all existing approvals on all chains using the wallet provider’s settings.

The attack impacted assets on multiple chains. The attacker tumbled 114 ETH (~$146,000) through Tornado Cash shortly after the hack, along with 179 BNB (~$48,500). The full extent of the attack is still being measured. The buggy contract that enabled the attack had been audited by blockchain security firm PeckShield, but the vulnerability had apparently gone undetected.

The attack happened less than a month after Rabby Swap, a token exchange feature meant to maximize liquidity from many sources, was live on September 14.

PeckShield had previously audited the Rabby Router smart contract, which allows the exchange feature.

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.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

BNB

DeBank

ETH

Peckshield

Rabby Swap

Smart Contract

Tornado cash

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Author

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.
Scam Alert

DeBank’s Wallet Rabby Swap Smart Contract Gets Exploited

Rabby, the wallet developed by DeBank, tweeted that there is an exploit on Rabby Swap smart contract. If users have used it, please revoke all existing approvals on all chains for Rabby Swap. The team is actively working to solve it.
DeBank's Wallet Rabby Swap Smart Contract Gets Exploited
DeBank's Wallet Rabby Swap Smart Contract Gets Exploited 4

The exact scope of the exploit is unknown. However, some have stated that their wallets have been emptied. According to a Twitter thread, Rabby advised users to withdraw all existing approvals on all chains using the wallet provider’s settings.

The attack impacted assets on multiple chains. The attacker tumbled 114 ETH (~$146,000) through Tornado Cash shortly after the hack, along with 179 BNB (~$48,500). The full extent of the attack is still being measured. The buggy contract that enabled the attack had been audited by blockchain security firm PeckShield, but the vulnerability had apparently gone undetected.

The attack happened less than a month after Rabby Swap, a token exchange feature meant to maximize liquidity from many sources, was live on September 14.

PeckShield had previously audited the Rabby Router smart contract, which allows the exchange feature.

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.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News