SushiSwap: A Recipe For Disaster? Over $3M Worth Of Ethereum Stolen In Latest Exploit

Over the weekend, SushiSwap suffered a major security breach when a bug in its RouterProcessor2 contract was exploited, leading to the theft of approximately $3.3 million worth of Ethereum ETH/USD from a user's wallet.

PeckShield, a blockchain security and data analytics company, confirmed that the "approve-related bug" in the contract allowed the attacker to steal 1,800 ETH from the victim's wallet.

Binance-backed BNB/USD cybersecurity firm Ancilia conducted a separate analysis and found that the flaw resulted from a failure to validate access permissions during a swap transaction.

The vulnerable contract was also discovered on the Polygon network.

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Jared Grey, SushiSwap's "head chef," confirmed the bug and urged users who had interacted with the blockchain to revoke all permissions granted to the exchange's contracts.

CTO Matthew Lilley also followed up with more details, stating that the company was identifying all affected addresses and working to rescue funds as they become available.

Lilley also provided a tool to help users check for exposure across various networks.

Despite the hack, the price of SushiSwap's SUSHI/USD token has only dropped slightly in the past 24 hours. 

It is worth noting that SushiSwap narrowly avoided a major hack earlier this year when a "white hat" crypto researcher discovered a bidding bug that could have resulted in a loss of $350 million.

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