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Cryptocurrency Ecosystem => DeFi tokens => Topic started by: RSRS on September 16, 2021, 03:44:17 PM

Title: Defi Hack Alert: NowSwap losses over $1 Million in cyber attack
Post by: RSRS on September 16, 2021, 03:44:17 PM

According to news from the Analytic group, PeckShield, the DEX protocol, NowSwap was hacked and lost more than 1 million USD in funds. The attackers stole 535,000 USDT and 158 WETH. USDTs are converted to ETH through the distributed network service, 1inch, and further transferred to the Ethernet Square anonymous trading platform, Tornado Cash. Furthermore, the hackers used an invalid ‘K’ value check in the pair contract of NowSwap to attack the protocol.

Indeed, the current implementation only enforces 1/10 of K! The hacker grabs 535K USDTs and 158 WETHs. The USDTs have been swapped into ETH via @1inch and then washed via @TornadoCash https://t.co/IFXySRn1kV

— PeckShield Inc. (@peckshield) September 15, 2021

More Information (https://cryptonews.net/en/news/defi/1824013/)