Decentralised exchange SushiSwap has been the victim of million-dollar hack, as confirmed by Jared Grey, head of SushiSwap. Although they started recovering the stolen tokens, but this hack has now put decentralised exchanges under suspicion.
The Hack Victim
The hack was reported when a user handle 0xSifu lost 1,800 $ETH, which were worth $3.3M. It was found that RouterProcessor2 contact was bugged. More incidents followed after that, which were reported by Sushiswap head Jadon Grey, and
Action Post Hack
The hacking forced SushiSwap head Jared Grey to alert people to cancel all swaps and move their assets out of SushiSwap. The hacking was going live, and users were withdrawing their assets. In the investigation, it was found that the targets of the hacking were accounts that had been active for the last four days.
Recovery and After
Although the developer of Sushi has been vigilant and has done a lot of recovery, the damage was done. For a long time now, people have hesitated to invest in sushi. SushiSwap's rival platforms are cashing in on this hacking to their advantage.
