Changpeng Zhao, CEO of crypto exchange Binance, has said the site's researchers have discovered a potential vulnerability in the third version of Uniswap (v3).
However, it has later been reported it was actually a phishing attack and not a vulnerability in the protocol.
According to Zhao, the attackers have stolen 4,295 ETH ($4.6 million) from the protocol and sent them to the mixer Tornado Cash.
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PeckShield experts have said there has been an attack on liquidity providers (LP).
One of the first to report the phishing campaign was security specialist Harry Denley, who noted the attackers sent malicious tokens under the guise of a Uniswap airdrop to more than 70,000 addresses.
Victims interested in the tokens have been redirected to a fraudulent site and then the hackers have stolen the funds.
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It should be noted the number of affected users and the total amount of damage is still unknown.