Friday, December 2, 2022
HomeCrypto$4.7 million lost on this popular protocol – are you concerned?

$4.7 million lost on this popular protocol – are you concerned?

He offered the help of the world’s largest cryptocurrency platform to fight the incident.

Our threat intel detected a potential exploit on Uniswap V3 on the ETH blockchain. The hacker has stolen 4295 ETH so far, and they are being laundered through Tornado Cash. Can someone notify @Uniswap? We can help. Thanks https://t.co/OV3g7ayf77

As a reminder, Uniswap is one of the multiple decentralized finance platforms operating the Ethereum blockchain. The smart contracts of this protocol house approximately $5 billion in the form of various digital assets. This attack therefore potentially threatened a lot of money.

Fortunately, the creator of the Uniswap protocol has reacted a few minutes later stating, screenshot of a discussion conducted between the CEO of Binance and other members by Uniswap in support that it is only a phishing attack. It is therefore not the protocol as a whole that was targeted, but only a few user accounts that were taken in by the hacker(s).

Ethereum is very exposed…

It should be noted that this incident has the merit of reminding us of a certain vulnerability of the Ethereum ecosystem to hacker attacks. It is, for example, the blockchain most impacted by hacking in the first half of 2022, with more than a billion dollars in the first six months of the year, according to a recent report by Atlas VPN. The ecosystem is ahead of Solana and Binance, by the fault of 32 listed hacks. In total, nearly 2 billion dollars were stolen on the various platforms.

Ranking of #blockchains most impacted by hacking: – #Ethereum $ETH 🏆 – #Solana #SOL 🥈 – #Binance Smart Chain $BSC 4️⃣ https://t.co/T8fb0zAS75

The Uniswap token is currently worth over $5. According to the Crypto Ground algorithm, the price of the token could reach $67.4082 by the end of 2025.

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Read also The Solana (SOL) has many red flags promising an uncertain future in case of long-term investment

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