ParaSwap has started to return crypto assets stolen by hackers to users

The aggregator of decentralized exchanges ParaSwap has eliminated a critical vulnerability in the Augustus v6 smart contract and has already begun to return crypto assets stolen by hackers to users.

ParaSwap has started to return crypto assets stolen by hackers to users

The ParaSwap team announced on the social network X that they had revoked the permissions for Augustus v6 and returned all assets to the affected users. Revocation of a smart contract implies its deactivation in the blockchain to prevent access to the user's wallet and tokens. According to ParaSwap, 213 addresses have not yet revoked their rights to the defective smart contract.

ParaSwap specialists discovered the vulnerability on March 20, just a few days after the launch of a new version of the smart contract, which was designed to improve token exchange and reduce transaction fees. Fortunately, the losses of the project turned out to be relatively small: hackers managed to steal $24,000 worth of crypto assets. After the attack was detected, the platform suspended the API and secured the funds with the help of "white hackers".

To investigate the incident, ParaSwap is working closely with the analytical companies Chainalysis and TRM Labs, which helped track the movement of funds and identify the addresses of intruders. The ParaSwap team reported that they tried to contact the hackers by sending them messages on the network urging them to return the stolen funds. The developers warned that if hackers do not respond by March 27, it will be considered that they have embezzled other people's money. Therefore, all criminal, legal and administrative measures will be applied against intruders.


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