Jared Grey confirms SushiSwap lost $3.3M in token allocation

Jared Grey, the Head Chef of SushiSwap, recently confirmed that the platform was attacked.

According to the latest tweets, the platform lost over $3.3 million. The breach occurred in RouterProcessor2 that led to sifuvision.eth losing 1800 ETH. SushiSwap has reported that one attacker has returned 90 ETH (100 stolen).

On the other hand, BlockSec secured 100 ETH during the attack, which will be returned shortly. Jared Grey urged all SushiSwap users to revoke their permissions for contracts on the platform for security.

The bug found in the RouterProcessor2 contact has primarily affected one user, 0xSifu. The attack was directed at users who had approved SushiSwap contracts in the past four days. 0xngmi, a DeFiLlama developer, shared these crucial details with the security teams.

SushiSwap and BlockSec are constantly investigating the issue, tracking the funds, and trying to recover the assets. Jared Grey also talked about the recovery efforts on Twitter. The Head Chef cited a tweet from MetaSleuth that offered a detailed breakdown of the stolen assets.

SushiSwap is currently negotiating with c0ffeebabe.eth regarding the case. Most of the stolen funds have been tracked to rsync-builder, Lido: Execution Layer Rewards Vault, and beaverbuild. 

The BlockSec team also recognized the attack, releasing a tweet about its recovery efforts. The tweet stated that BlockSec knew about the attack and evaluated possible damage before making the information public.

The team has been working to ensure that the users’ assets are safe. BlockSec also confirmed the successful recovery of a portion of the stolen assets. 

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The latest incident has put the DeFi community on the back foot. It has also underlined the prominence of perpetual security and vigilance in DeFi. The attack affected the Sushi token’s market value, as its price dropped to $1.08. 

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.

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