Security expert of a virtual currency firm Paradigm shared a story about how a whitehat hacker spotted a critical bug in Ethereum’s SUSHI platform. And then he reported it to the developers.
Defi based projects & platforms have lots of unknown bugs even in such a long journey. The new bugs indicate how Defi projects & platforms are doing experiments with the funds of users in the crypto market. A Pseudonymous expert @Samczun on twitter explained how SUSHI was under a critical situation where hackers were able to attack and steal around $350 million dollars.
@samczsun noticed a discussion between Ethereum developers about the novel SushiSwap-centric token sale instrument, MISO.
A white hacker started to analyze the architecture of the programming on the project and figured out two functions which were not connected to any control access function. And also one of the function was not perfectly initialized. These bugs were not a big issue but white hat hackers found one other critical issue which was a big.
He found an error in the designation of MISO Dutch Auction. If any hacker tried then surely a drain of $350 million liquidity was possible.
The developers accepted that it was a really big error in the project. This flaw was identical with the bug of Opyn DeFi.
In August 2020, Opyn Defi faced an attack and lost around 370,000 USD Coins.