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News

SushiSwap Confirmed That Over 300 ETH Of Sifu’s Stolen Funds Were Recovered

April 10, 2023 - Around 3 mins mins to read

Key Points:

  • SushiSwap chef Jared Gray called users on social media to revoke the contract error approval of RouteProcessor 2 as soon as possible and also revealed that the recovery work is in progress.
  • The team confirmed that more than 300 ETH of Sifu’s stolen funds had been recovered from CoffeeBabe, and is in contact with the Lido team regarding 700 ETH.
  • P2P Validator confirms that its LidoFinance validator just received a 689 ETH MEV award whose payouts are linked to the most current Sushi exploit.
SushiSwap chef Jared Gray has once again appealed on social media to rescind RouteProcessor 2’s contract mistake approval as soon as feasible.
SushiSwap Confirmed That Over 300 ETH Of Sifu's Stolen Funds Were Recovered
SushiSwap Confirmed That Over 300 ETH Of Sifu's Stolen Funds Were Recovered 2

Gray further said that recovery efforts are underway, that the majority of the impacted money has been secured via the white hat security procedure, and that users may contact the SushiSwap security team.

SushiSwap has verified that almost 300 ETH of Sifu’s stolen assets have been recovered through CoffeeBabe, and is in communication with the Lido team about the remaining 700 ETH.

Furthermore, SushiSwap CTO Matthew Lilley clarified on social media that there is no risk in the SushiSwap protocol and user interface, that all RouterProcessor2 contract issues have been removed from the front end, that all LPing/current exchange activities can be carried out safely, and that SushiSwap will continue to monitor when funds are available/rescue funds with the white hat rescue address.

P2P Validator confirms that its LidoFinance validator just received a 689 ETH MEV award. These MEV payouts are linked to the most current Sushi exploit.

P2P Validator adds that, like any other Lido validator, P2P did not receive or handle the awards since they went to the Lido rewards vault, and the team is in discussions with the Lido and Sushi teams to study the problem and seek possible remedies.

As Coincu reported, SushiSwap was the victim of an exploit that cost more than $3.3 million to at least one user. The exploit takes advantage of a RouterProcessor2 contract approval flaw. Those who have swapped within the last four days may be affected. DefiLlama’s founder also created a webpage to verify addresses impacted by the SushiSwap attack.

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

Harold

Coincu News

CoffeeBabe

ETH

Jared Gray

Sifu

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Avatar of Harold

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.
News

SushiSwap Confirmed That Over 300 ETH Of Sifu’s Stolen Funds Were Recovered

Key Points:

  • SushiSwap chef Jared Gray called users on social media to revoke the contract error approval of RouteProcessor 2 as soon as possible and also revealed that the recovery work is in progress.
  • The team confirmed that more than 300 ETH of Sifu’s stolen funds had been recovered from CoffeeBabe, and is in contact with the Lido team regarding 700 ETH.
  • P2P Validator confirms that its LidoFinance validator just received a 689 ETH MEV award whose payouts are linked to the most current Sushi exploit.
SushiSwap chef Jared Gray has once again appealed on social media to rescind RouteProcessor 2’s contract mistake approval as soon as feasible.
SushiSwap Confirmed That Over 300 ETH Of Sifu's Stolen Funds Were Recovered
SushiSwap Confirmed That Over 300 ETH Of Sifu's Stolen Funds Were Recovered 4

Gray further said that recovery efforts are underway, that the majority of the impacted money has been secured via the white hat security procedure, and that users may contact the SushiSwap security team.

SushiSwap has verified that almost 300 ETH of Sifu’s stolen assets have been recovered through CoffeeBabe, and is in communication with the Lido team about the remaining 700 ETH.

Furthermore, SushiSwap CTO Matthew Lilley clarified on social media that there is no risk in the SushiSwap protocol and user interface, that all RouterProcessor2 contract issues have been removed from the front end, that all LPing/current exchange activities can be carried out safely, and that SushiSwap will continue to monitor when funds are available/rescue funds with the white hat rescue address.

P2P Validator confirms that its LidoFinance validator just received a 689 ETH MEV award. These MEV payouts are linked to the most current Sushi exploit.

P2P Validator adds that, like any other Lido validator, P2P did not receive or handle the awards since they went to the Lido rewards vault, and the team is in discussions with the Lido and Sushi teams to study the problem and seek possible remedies.

As Coincu reported, SushiSwap was the victim of an exploit that cost more than $3.3 million to at least one user. The exploit takes advantage of a RouterProcessor2 contract approval flaw. Those who have swapped within the last four days may be affected. DefiLlama’s founder also created a webpage to verify addresses impacted by the SushiSwap attack.

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

Harold

Coincu News