SushiSwap hacked, lost 1800 ETH: Report
Because of a bug, SushiSwap exchange users lost their funds in the latest attack. The team urged SushiSwap users to revoke all chain approvals.
SushiSwap is an averagely popular Decentralised crypto exchange, more similar to Uniswap crypto exchange. At the present time, SushiSwap Decentralised Autonomous Organization (DAO) & SushiSwap head developer Jared Grey is under investigation by the United States Securities and Exchange Commission (SEC).
On 9 April 2023, Because of a bug in the smart contract, the SushiSwap platform was exploited for around $3 million worth of crypto assets.
Crypto security platform Peckshield reported that platform lost approximately $3.3 million (nearly 1800 ETH) in this incident and also suggested all the SushiSwap users revoke the transaction approval.
On the same day, Sushi’s head developer Jared Grey urged white hat hackers to help the SushiSwap team tackle the whole situation and also confirmed that the team successfully recovered 300 ETH & 700 ETH may recover soon.
SushiSwap token price action
The current trade price of the Sushi token is $1.1 & this trade price is trying to recover under the current bad news environment, as we can see in the price graph.
The last week for this crypto team was not good, as they faced investigation action by the US SEC agency and secondly their crypto platform was exploited.
Yesterday we reported that Jared Grey said that he is not sure about the new names, which may be subject to the SEC’s ongoing investigation against SushiSwap.
Read also: Popular Crypto reporter Andrew says no chance an $ETH futures ETF will be approved
