More than 10 tokens are affected by the recent chain swap hack
About $ 8 million has evaporated from the cross-chain decentralized financial platform ChainSwap (ASAP) after hackers exploited a critical vulnerability in its smart contract.
in the notification Lastly, the project asks users not to buy their native tokens while the incident is being investigated. It claims that funds from personal wallets are safe, but the deposit and withdrawal functions remain stalled.
More than 10 tokens were affected by the attack.
Chainswap has been exploited
DO NOT BUY TOKENS NOW
Hacker wallet: pic.twitter.com/sPNcuPI31H
– Krisma (@ KRMA_0) July 10, 2021
UniFarm (UFARM), Optionroom (ROOM), OroPocket (ORO) and other projects decision temporarily withdraw all liquidity from Uniswap and Pancakeswap.
Umbrella Network (UMB) has announced that it will buy back its native tokens valued at $ 230,000 and the community will decide how to spend them.
The project also said it will no longer create a token bridge based on ChainSwap.
The hack caused some chaotic price movements. Wilder World (WILD), one of the affected tokens, crashed 99.8% of the time before recovering, according to CoinGecko data.
In April, ChainSwap raised $ 3 million from Alameda Research, NGC Ventures, OKEx’s Block Dream Fund, and other investors. It enables the mass exchange of obscure DeFi tokens listed on its platform between Ethereum, Binance Smart Chain (BSC) and Huobi Eco Chain (Heco).
According to U.today