SushiSwap was recently the victim of a hack on one of its trading pairs.
The SUSHI token does not appear to be affected and has actually risen against the dollar.
During this time, the digg / eth pair has dropped by more than 50%.
Decentralized liquidity service provider Sushiswap suffered another attack.
This was the result of exploiting a flaw in the system leading to a successful hack, resulting in the theft of 81 ETH . The attacker took part of the daily costs of the platform.
ETH: The SushiSwap smart contract loophole
The system vulnerability has been identified on the Badger DAO DIGG token. The hacker exploited a transaction that converted 0.05% of the DIGG / WBTC ( BTC ) swap fee . The stolen funds amounted to 81 ethereum (eth) (~ $ 103,842).
The attacker hinged on a weak point in the SushiSwap protocol via a smart contract component called Sushimaker. The platform has created a new digg / eth trading pool with low liquidity. The lack of a bridge that should have sent a reward to the punters resulted in oversized charges for the hacker.
are processed and a reward is distributed among the liquidity providers in the protocol’s native SUSHI token .
The hack, which has been described by many as a famous “pullrug” (cutting grass under the foot in French), was simply an exploitation of a weak link on the SushiSwap protocol. This was explained in a report by a pseudonymous crypto-journalist known as rekt.
The latter explained that he had contacted the SushiSwap team about the hack. Contrary to what many have described, he claimed it was not a pullrug:
“Upon further research, we found that even though there had been an exploitation, the damage had already been contained and what had been perceived as a threat to the entire SushiSwap protocol was simply a clever scavenger picking up the food that had been left behind. ”
No market reaction
The price of SUSHI does not appear to have been affected by the news. The token climbed above the $ 8 level on that day. Before the hack, the price briefly fell below $ 7. However, the bulls quickly regained control, raising their bids at the time of writing.
The same cannot be said for the digg / eth pair , however, as prices have fallen over the past three days. As of the time of this writing, the digg / usd price has dropped dramatically from around $ 92,000 to $ 41,000.