SushiSwap Project Suspectedly Attacked and Loses Approximately $3.34 Million: What You Need to Know

04/09/2023 03:36 • Metaverse & Beyond • 66 views

According to reports, according to the Beosin EagleEye security risk monitoring, warning, and blocking platform monitoring under the blockchain security audit company Beosin, the SushiSwap project is suspected to have been attacked, with a loss of approximately 1800ETH and approximately 3.34 million US dollars. The Beosin security team is analyzing this incident and suggests that users authorized under the 0x044b75f554b886A065b9567891e45c79542d7357 contract be revoked as soon as possible to prevent funds from being stolen.

Security team: SushiSwap project is suspected to have been attacked, resulting in a loss of approximately $3.34 million

As per reports from the Beosin EagleEye security risk monitoring, warning, and blocking platform, the SushiSwap project has been subjected to a security breach leading to losses of around 1800ETH and approximately 3.34 million US dollars. The Beosin security team is currently analyzing the incident to identify the root cause, and they strongly suggest revoking the authorization of all the users under the 0x044b75f554b886A065b9567891e45c79542d7357 contract as soon as possible, to prevent further funds from being stolen.

What is SushiSwap Project?

SushiSwap is a decentralized exchange project that operates on the Ethereum blockchain, allowing users to trade various cryptocurrencies, including ERC-20 tokens, in a peer-to-peer manner, without the involvement of intermediaries.

What Happened to SushiSwap Project?

According to the reports from Beosin, a security breach has taken place in the SushiSwap project, which resulted in the loss of around 1800ETH and approximately 3.34 million US dollars. The root cause of the attack is yet to be identified, but the Beosin security team is working on analyzing the incident to prevent further damage.

What is Beosin EagleEye Security Risk Monitoring, Warning, and Blocking Platform Monitoring?

The Beosin EagleEye security risk monitoring, warning, and blocking platform is a blockchain security audit company, providing security solutions to various decentralized exchange platforms and blockchain projects.

Why Should Users Revoke Authorization under 0x044b75f554b886A065b9567891e45c79542d7357 Contract?

The Beosin security team suggests revoking the authorization of all users under the 0x044b75f554b886A065b9567891e45c79542d7357 contract as soon as possible, to prevent further funds from being stolen. This contract was used by the attacker to siphon off funds from the SushiSwap project.

How Can Decentralized Exchanges Improve their Security?

Decentralized exchanges should focus on improving their security features by adopting advanced security protocols, such as multi-signature wallets, two-factor authentication, and hardware wallets. Furthermore, regular monitoring and auditing of smart contracts can also help mitigate the risks associated with such breaches.

Conclusion

The recent security breach in the SushiSwap project highlights the need for improved security measures in decentralized exchanges. The Beosin security team is working on identifying the root cause of the attack, and in the meantime, revoking the authorization of users under the 0x044b75f554b886A065b9567891e45c79542d7357 contract can prevent further monetary loss.

FAQs

1. What is a Decentralized Exchange?
A decentralized exchange is a blockchain-based platform that allows users to trade cryptocurrencies in a peer-to-peer and decentralized manner, without the involvement of intermediaries.
2. What are Multi-Signature Wallets?
Multi-signature wallets are digital wallets that require the approval of multiple parties before a transaction can be executed, making it more difficult for hackers to breach.
3. What is Two-Factor Authentication?
Two-factor authentication is an extra layer of security that requires users to verify their identity by entering a unique code, sent to their registered mobile device, in addition to their login credentials.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/14364.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.