Transit Swap loses over $21M due to internal bug hack, issues apology
“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to the users while efforts to track down and recover the stolen funds are underway.“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Blockchain....
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The funds returned so far has come in the form of Ether (ETH), Binance-pegged ETH and BNB ($14.2 million). A quick response from a number of blockchain security companies has helped facilitate the return of around 70% of the $23 million exploit of decentralized exchange (DEX) aggregator Transit Swap.The DEX aggregator lost the funds after a hacker exploited an internal bug on a swap contract on Oct. 1, leading to a quick response from Transit Finance team along with security companies Peckshield, SlowMist, Bitrace and TokenPocket, who were able to quickly work out the hacker’s IP, email....
Under the agreement, more than $2 million would be returned to Transit Swap users. On Oct. 10, decentralized finance (DeFi) protocol Transit Swap announced that it had reached an agreement with its biggest hacker for the return of funds. Approximately one week prior, a hacker exploited an internal bug on a swap contract within the protocol and caused other individuals to imitate the security breach, leading to a loss of over $23 million in user funds. However, the main hacker has since returned approximately 70% of exploited funds thanks to the help of security companies such as....
On Sunday, the multichain decentralized exchange aggregator Transit Swap suffered an exploit resulting in $23 million losses. But fortunately, the project’s team managed to recover 70% of the stolen funds on the same day with the help of several blockchain security firms, which facilitated the platform immediately after the incident. The blockchain security firms which […]
Rumors of a significant hack on the BNB Chain were confirmed by the blockchain's team, with all deposits and withdrawals suspended on the network. BNB Chain (BNB) the blockchain of cryptocurrency exchange Binance, was paused on Oct. 6 due to what it states is “irregular activity” on the network with the team having determined a potential exploit.The official Twitter account of the BNB Chain announced the temporary pause, soon after adding it had found a possible exploit. Binance provided an update that the blockchain was “under maintenance” suspending all deposits and withdrawals.To....
Cryptocurrency exchange Coinbase published a statement addressing their U.K. and E.U. customers, apologizing for system outages and account restrictions. The company also recognized their customer support “has not been at the levels” expected. High Flow of Incoming Customers According to the public apology, the U.S.-based crypto company said customers from both regions have been facing transaction restrictions. However, Coinbase didn’t make a direct mea culpa for its global issues, that occured precisely when volatility and velocity increased in the crypto markets.....