Anyswap Multichain Router V3 Investigation Report

An incident of vicious exploitation was reported at the novel Anyswap Multichain Router V3 on July 10, 2021. An investigation into the exploitation incident of Anyswap revealed that there has been no effect on the bridge of Anyswap by the exploitation incident. However, the cross-chain liquidity pools of Anyswap V3 have been badly affected by the exploitation attack. Nonetheless, the users of Anyswap need not worry as the default functions of Anyswap have not been affected at all.

The exploitation attack that occurred on July 10, 2021, was targeted at the liquidity pool of Anyswap. There were four major attacks that resulted in the loss of 1,536,821.7694 USDC, 5,509,2227.35372 MIM, 749,033.37 USDC, and 112,640.877101 USDC at the liquidity pools. The investigation department detected a couple of V3 router transactions at the account of V3 Router MPC on the Binance Smart Chain. Both the transactions bore similar R-value signatures. The team at Anyswap probed into the method of attack, reproduced it, and concluded that the hackers deduced the private keys to the MPC account by reverse engineering to launch the attack.

The team at Anyswap has carefully audited every transaction at the v1/v2 bridge. The bridges are completely safe as there have been no R transactions at the bridges. The code of Anyswap has been fixed by the team to do away with the use of R-value signatures. The relaunch of Anyswap Multichain V3 shall take place within the next couple of days. The Anyswap team has joined hands with Trail of Bits for a deeper investigation of the V3 incident. The platform of Anyswap has suffered a huge loss of 5,509,222.73 MIM and 2,398,496.02 USDC in total. At present, Anyswap is working on providing full compensation to the users. The liquidity providers of Anyswap shall be able to withdraw funds again after 48 hours.

Anyswap is currently offering rewards to those users who report the presence of bugs to the team. The bug report rewards shall enhance the platform’s security and help develop improved cross-chain solutions.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 66,201.74
ethereum
Ethereum (ETH) $ 3,501.95
tether
Tether (USDT) $ 0.999115
bnb
BNB (BNB) $ 605.19
solana
Solana (SOL) $ 144.34
xrp
XRP (XRP) $ 0.476813
dogecoin
Dogecoin (DOGE) $ 0.135341
cardano
Cardano (ADA) $ 0.411188