After a $3.3 million exploit, SushiSwap moves to reimburse users. The exploit on the popular decentralized exchange (DEX) occurred due to a contract bug. Less than 72 hours after the hack on April 9th, SushiSwap announced an update to reimburse affected users. Following the hack, “through a trade routing smart contract (RouterProcessor2) the protocol lost about 1,800 ether (ETH).
However, SushiSwap has recovered over 300 ETH, as revealed by Jared Grey in a tweet. “We’ve confirmed the recovery of more than 300ETH from CoffeeBabe of Sifu’s stolen funds. We’re in contact with Lido’s team regarding 700 more ETH,” he said.
Users who lost their assets to the whitehat team would be refunded first then those who lost theirs to the blackhat hacker, SushiSwap said. Additionally, the Sushi team said “The web is safe to use now.”
Funds resting in the whitehat means that security experts are with the funds, and will be claimed by users in no time. Whitehat security teams secured the remaining funds that were still vulnerable to the bug.
All users have to do is to “submit an email to security@sushi.com or open a ticket in our Discord.” The transaction ID(s) and blockchain(s) data for the lost funds, should be included in the mail.
Moreover, Sushi updated that the process for whitehat assets claim is ready and waiting to be audited.
Blackhat funds will go through a manual verification, hence will take longer to process. The process seeks to verify the legitimacy against on-chain data that validates the claim, and payment will follow.
The exploited contract on the DEX is less than 10 days old, meaning that users who haven’t interacted with the DEX before that time are likely not to be affected. Nonetheless, users are enjoined to check their approvals to confirm the connection with the RouteProcessor2 contract. Once confirmed, it should be removed and then reconnected with Sushi to trade normally.
SushiSwap afterward put up a proposal to LidoFinance asking the LidoFinance community to help in the return of the exploited funds.
Jared Grey, Head Chef at SushiSwap expressed that Lido was instrumental in helping to reach the LidoFinance community to assist in returning the exploited funds that were distributed to validator stakers.
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