White Hacker Saved SushiSwap 109K ETH by Identifying Vulnerability
Main page News, Ethereum, Blockchain, Smart contracts, Hacker Attack

SushiSwap, a decentralized finance (DeFi) trading platform, has avoided a security breach thanks to a security researcher from venture capital firm Paradigm. The blockchain specialist known as @samczsun on Twitter found and helped patch a vulnerability that could have costed the platform over 109,000 ETH (~$334 million as of press time).

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

According to an official blog post, the specialist found a vulnerability in the Miso Dutch auction contract that could allow bad actors to issue refund for any ETH sent which "went over the auction's hard cap."

"I was not dealing with a bug that would let you outbid other participants. I was looking at a 350 million dollar bug," samczsun wrote.

After discussing the vulnerability with SushiSwap, the BitDAO team — which conducted the auction — decided to manually finalize the auction by neutralizing the threat.

The rescue operation comes after Poly Network, a protocol of interoperability between multiple blockchains, suffered a massive $611 million hack, which made it the largest hack in the DeFi space. The protocol's team wrote on Twitter that the project had been attacked not only on the Ethereum network, but also on Binance Smart Chain and Polygon.

DeFi Protocol Popsicle Finance Loses $25M After Hacker Attack

However, shortly after the Poly Network team revealed the hack, the hacker himself (or herself) agreed to return all the stolen funds. Later, Poly Network offered the hacker the position of Chief Security Adviser and to continue contributing to the security of blockchain technology.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error