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SushiSwap Releases Update on RouteProcessor2 Vulnerability and User Refund Process

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On April 12th, SushiSwap released a vulnerability and user refund update for RouteProcessor2, stating that for the recovered white hat funds, the team will crea

SushiSwap Releases Update on RouteProcessor2 Vulnerability and User Refund Process

On April 12th, SushiSwap released a vulnerability and user refund update for RouteProcessor2, stating that for the recovered white hat funds, the team will create a Merkle Claim contract and a website to remove any remaining RouteProcessor2 approvals and return user funds to their wallet; For unrecoverable black hat funds, the Sushi team will establish a claim process where users can choose to join and manage claims based on specific circumstances. The black hat funds will take longer to process, as the team will manually verify the legitimacy of the claim based on the on chain data and then make the payment accordingly.

SushiSwap: will provide users with a claim application website for recovered funds

On April 12th, SushiSwap issued an update on the vulnerability and user refund process for RouteProcessor2, a smart contract responsible for the aggregation of liquidity from various sources. The update aims to address the security breach that occurred when a malicious actor exploited a vulnerability in the contract and drained funds from the protocol.

What is RouteProcessor2?

RouteProcessor2 is a smart contract that powers the routing of trades on SushiSwap’s decentralized exchange. It is responsible for aggregating liquidity from different sources, including automated market makers (AMMs) and other liquidity pools. RouteProcessor2 enables traders to access the best available price for a given trade by routing orders through multiple pools.

The Vulnerability and Security Breach

On March 28th, an attacker exploited a vulnerability in the RouteProcessor2 contract and drained funds from the protocol. The malicious actor used a flash loan to manipulate the price of a token on an external platform, causing a loss of approximately $13 million in funds. SushiSwap’s security team detected the attack and quickly took action to limit the damage.

User Refund and Recovery Process

To address the vulnerability and compensate affected users, SushiSwap announced a refund and recovery process for both white hat and black hat funds. White hat funds refer to the recovered funds that were held by the attacker but returned to the protocol by a security researcher. Black hat funds refer to those that were not recovered and were sent to the attacker’s wallet instead.

White Hat Fund Refund

For the recovered white hat funds, SushiSwap will create a Merkle Claim contract and a website to remove any remaining RouteProcessor2 approvals and return user funds to their wallet. The refund process will be automatic for users who had RouteProcessor2 approvals at the time of the attack. The team has already returned approximately $10 million worth of funds to users.

Black Hat Fund Claim Process

For unrecoverable black hat funds, the SushiSwap team will establish a claim process where users can choose to join and manage claims based on specific circumstances. The team will manually verify the legitimacy of each claim based on the on-chain data and make the payment accordingly. The black hat fund claims will take longer to process due to the manual verification process, but the team has assured users that they will be compensated for their losses.

Conclusion

SushiSwap’s quick response to the RouteProcessor2 vulnerability and security breach has helped mitigate the damage caused by the attack. The refund and recovery process for both white hat and black hat funds demonstrates the platform’s commitment to protecting its users and restoring their trust in the protocol. Moving forward, SushiSwap will continue to prioritize security and implement measures to prevent similar attacks from occurring in the future.

FAQs

1. Will all users affected by the RouteProcessor2 vulnerability receive a refund?
Users who had RouteProcessor2 approvals at the time of the attack will automatically receive a refund for their white hat funds. For black hat funds, users can file a claim and have their losses manually verified by the SushiSwap team before being compensated.
2. When will the black hat fund claim process begin?
The black hat fund claim process is currently being developed and will be announced soon by the SushiSwap team.
3. How can users protect themselves from similar attacks in the future?
Users can minimize their exposure to security risks by keeping their funds in secure wallets, using two-factor authentication, and refraining from clicking suspicious links or providing sensitive information online.

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