ChainSwap, a cross-chain bridge that acts as a hub for multiple blockchains that was backed by Alameda Research and CMS Holdings, has been hacked for a second time. A hacker took advantage of a vulnerability in its smart contract that allowed them access to the protocol and to sell tokens available on ChainSwap via other exchanges.
A hacker has taken advantage of a vulnerability in ChainSwap’s smart contract code that gave them access to the protocol and to sell tokens available on ChainSwap via other exchanges.
Wilder World’s developer n3o analyzed the incident, explaining the exploit allowed attackers to mint 20 million WILD tokens to their address. The price of the tokens plummeted in value after the hacker sold them on the open market.
Tokens for other projects, including Antimatter, Optionroom, Umbrellabank, Nord, Razor, Peri, Unido, Oro, Vortex, and others, were also affected by the incident. The attack is estimated to have led to an $8 million loss.
The attack comes after another ChainSwap exploit that occurred on July 2 that led to losses of around $800,000.
Source: https://www.cryptocompare.com/email-updates/daily/2021/jul/12/
