LIFI Protocol (@lifiprotocol) recently fell victim to a significant attack, resulting in a loss of approximately $9.7 million.
The stolen assets included 6,335,889 USDT, 3,191,914 USDC, and 169,533 DAI. These funds were swiftly converted into 2,857 ETH ($9.7 million) and dispersed across multiple wallets.
LIFI(@lifiprotocol) was attacked and lost $9.7M!🚨
Including 6,335,889 $USDT, 3,191,914 $USDC and 169,533 $DAI.
All these assets have been exchanged for 2,857 $ETH($9.7M) and distributed to multiple wallets.
Revoke all approvals: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae… pic.twitter.com/WKUwqeaKrF
— Lookonchain (@lookonchain) July 16, 2024
In light of this incident, users are urgently advised to revoke approvals for the following addresses:
– 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae
– 0x341e94069f53234fE6DabeF707aD424830525715
– 0xDE1E598b81620773454588B85D6b5D4eEC32573e
– 0x24ca98fB6972F5eE05f0dB00595c7f68D9FaFd68
Cyver’s alert system has detected additional suspicious transactions involving LIFI Protocol on the Arbitrum (ARB) network. Consequently, it strongly recommends users revoke their approvals for the address 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae to safeguard their assets.
🚨UPDATE🚨Our system has raised more suspicious transactions involving @lifiprotocol on #ARB too!
We strongly recommend to users to revoke their approvals for: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae
Total loss is now around $10M across different chains!
Want to keep your… https://t.co/G5tAkl31bT pic.twitter.com/NJe3dm7KNP
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) July 16, 2024
Total Loss Comes In At Around $10 MillionÂ
The total loss across different chains is now approaching $10 million, highlighting the urgent need for users to take precautionary measures. LIFI Protocol and security experts are working diligently to address the breach and mitigate further risks. However, user vigilance is crucial in preventing additional losses.
The incident underscores the importance of robust security measures within the decentralized finance (DeFi) space. Users are reminded to regularly review and revoke token approvals, particularly in light of ongoing security threats. LIFI Protocol is expected to release further updates as the investigation progresses.
🚨ALERT🚨@lifiprotocol, Our system has raised suspicious transactions involving your https://t.co/3LzbDK99Ed
We recommend users to revoke their approvals for: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae
More than $8M have been drained so far from users and mostly stablecoins!… pic.twitter.com/zsj9DZWnpU
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) July 16, 2024
This breach serves as a stark reminder of the vulnerabilities that exist within the DeFi ecosystem. Users must remain proactive in safeguarding their digital assets, ensuring they are not exposed to similar attacks. The DeFi community is urged to stay informed and take necessary precautions to protect against potential security breaches.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.