Beosin Warns of Suspected Attack on SushiSwap Project and Suggests Users to Revoke Authorization

04/09/2023 03:36 • Metaverse Matters • 117 views

According to reports, according to the Beosin EagleEye security risk monitoring, warning, and blocking platform monitoring under the blockchain security audit company Beosin, the SushiSwap project is suspected to have been attacked, with a loss of approximately 1800ETH and approximately 3.34 million US dollars. The Beosin security team is analyzing this incident and suggests that users authorized under the 0x044b75f554b886A065b9567891e45c79542d7357 contract be revoked as soon as possible to prevent funds from being stolen.

Security team: SushiSwap project is suspected to have been attacked, resulting in a loss of approximately $3.34 million

In recent reports, Beosin EagleEye security risk monitoring, warning, and blocking platform discovered a suspected attack on the SushiSwap project, resulting in a significant loss of funds. The incident has raised security concerns amongst users and investors, and the Beosin security team is currently analyzing the situation.

What is SushiSwap?

SushiSwap is a protocol that facilitates trustless trading of cryptocurrencies, commonly known as a decentralized exchange (DEX) built on the Ethereum blockchain. It allows investors to earn rewards by staking their cryptocurrency assets in pools and liquidity pools, and enables users to participate in governance and decision-making processes.

The suspected attack & its impact

Beosin EagleEye security risk monitoring, warning, and blocking platform discovered a suspected attack on SushiSwap protocol, leading to a loss of approximately 1800ETH and 3.34 million US dollars. The attack was possible due to the vulnerability in a smart contract named 0x044b75f554b886A065b9567891e45c79542d7357, which granted unnecessary authorization to users, allowing for unauthorized withdrawals.
The attack resulted in a significant loss of funds, and it has raised concerns about the security and reliability of the SushiSwap protocol. It highlights the importance of security measures and evaluation of smart contracts before they are deployed on the Ethereum blockchain.

Beosin EagleEye Investigation

The Beosin security team is currently analyzing the incident and working to identify the source of the attack. They have also advised users authorized under the 0x044b75f554b886A065b9567891e45c79542d7357 contract to revoke their authorization immediately to prevent additional funds from being stolen.
Beosin EagleEye is an industry-leading technology that monitors a wide range of security events across various blockchain networks, providing a comprehensive security alert system for industry players.

Conclusion

The suspected attack on the SushiSwap protocol highlights the importance of maintaining robust security protocols and evaluating smart contracts. The Beosin security incident illustrates the need for a comprehensive security alert system like EagleEye to detect and prevent malicious activities on blockchain networks.

FAQs

1. What is SushiSwap, and why is it in the news?
– SushiSwap is a decentralized exchange (DEX), built on the Ethereum blockchain. It has recently made headlines due to a suspected attack that resulted in a significant loss of funds.
2. What is the Beosin EagleEye platform?
– Beosin EagleEye is a leading security risk monitoring, warning, and blocking platform that provides comprehensive security alerts for various blockchain networks.
3. What should SushiSwap users do to protect their funds?
– Beosin security team suggests that users authorized under the 0x044b75f554b886A065b9567891e45c79542d7357 contract should revoke their authorization immediately to prevent additional funds from being stolen.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/14118.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.