Decentralized finance ( DeFi) protocols are among the rapidly rising stars of the crypto world in recent years.
DeFi Aside from the rapid rise of , there are still problems with security measures. Sushi DEX asked its users to cancel contracts for security reasons.
Sushi Approval Agreement Abuse Occurs
Sushi Earlier today, its developers disclosed an exploit for a smart contract in the decentralized finance protocol. However, they directed users to cancel the contracts they had approved.
The exploit was specifically aimed at the ‘RouterProcessor2’ contract, which is used for trading routing on the SushiSwap exchange. SushiSwap RouterProcessor2They explained that a mistake in their contract would result in a loss of $3.3 million.
After the exploit in the contract was noticed, SushiSwap lead developer Jared Gray asked users as a security precaution. SushiSwap He asked them to revoke permissions for all contracts in . He added that the team is working with security teams to resolve the issue.
Sushi's RouteProcessor2 contract has an approval bug; please revoke approval ASAP. We're working with security teams to mitigate the issue. https://t.co/WhXJfa5xD4
— Jared Grey (@jaredgrey) April 9, 2023
DefiLlama developer 0xngmi explained that the exploit affected users who approved SushiSwap contracts in the last 4 days. This incident once again brought up the issue of security in the DeFi industry.
