Decentralized exchange (DEX) Transit Swaplost nearly $21 million after the hacker attacked using an internal bug.
Responding to updated security measures implemented by crypto businesses, hackers continue to develop their methods to deceive investors.
Transit Swap Loses $21M Due to Code Mistake
Transit Swap lost nearly $21 million after a hacker exploited an internal bug in a swap contract. Following the announcement, Transit Swap apologized to users, stating that it is continuing to track and recover the stolen funds.
Transit Swap , on Twitter, explaining that the flaw in the code allowed a hacker to miss an estimated $21 million; “We are very sorry,” he said. Blockchain researcher Peckshield described the attack as a compatibility issue or misplaced trust in the swap agreement.
— Transit Swap | Transit Buy | NFT (@TransitFinance) October 2, 2022
peckshield, SlowMist, Bittraceand TokenPocketHe joined the quest to track down the hacker, along with other researchers, including
Transit SwapHe said the following about the attack:
“We now have a lot of valid information such as the hacker’s IP, email address, and linked chain addresses. We will do our best to track down the hacker and contact the hacker and help everyone recover their lost”
