Cointelegraph - Li.Fi, a crypto swap platform, was hacked for over $10 million by exploiting a vulnerability in their smart contract, targeting users with "infinite approvals" and prompting them to revoke such approvals to prevent further losses

in blockchain •  6 months ago 

https://cointelegraph.com/news/lifi-protocol-attack-8m-drained
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Li.Fi, a cryptocurrency swap platform, was hacked for over $10 million due to a vulnerability in their smart contract.

The hack targeted users who had granted "infinite approval" to their wallets, allowing hackers to drain their funds.

Li.Fi has patched the vulnerability and advised users to revoke approvals for suspicious addresses.

Beware of this attack!!

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blockchain horror attack li-fi crypto swap vulnerability smart-contract
6 months ago by

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      ·  6 months ago 

    Upvoted! Thank you for supporting witness @jswit.

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