Revert Finance hacked: Users got revoke approvals

Revert Finance, an AMM liquidity management protocol, confirmed through a tweet that the “v3utils” contract was hacked, and 90% of the funds were stolen from a single account. 

The accounts from which the funds are affected are given below: 

USDT: 4106.316699,

USDC: 22983.235188,

WETH: 0.18217977664322793,

DAI: 36.59093198260223,

PREMIA: 22,

WMATIC: 211.21463945524238,

OP: 485.5786287699002

The founder of Revert Finance, Mario Romero Zavala, tweeted today in response to this, saying that they have been going through a terrible time for a few days and that they, too, feel the loss of the users from whom the funds are taken. He said that upon examination, it was discovered that 90% of the stolen funds came from only one user. The victim informed Reverse Finance about this wrongdoing, and they were then made aware of it. Mario, however, stated that they would compensate each victim and provide a detailed report of the exploit very soon.

Advertisement

The firm has canceled most of the authorizations for the contract, and the remaining vulnerable funds are given to ethical hackers. However, some suspected addresses still exist without any balance. Hence, Revert alerted these addresses to proceed with deauthorization. 

Rivet Finance tweeted and confirmed an exploit to their “v3utils” contract, which was used in the “atomic swap into v3 position” functionality, before two days on February 18. In today’s announcement, the platform expressed gratitude to those who assisted them in notifying them about the theft and reaching out to specific accounts. 

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button