Socket cross-chain protocol breached, $3.3m in funds stolen
Fraudsters have breached the security system of the Socket cross-chain protocol . A security breach of the Socket protocol has led to the loss of millions in crypto after a hacker made use of a verification user input to steal users funds. Information about the hack appeared on the project’s microblog. “Socket has experienced a security incident that affected wallets with infinite approvals to Socket contracts. We have identified the issue & have paused the affected contracts.” Socket team PeckShield confirmed that at least $3.3 million was affected. They noted that the hack occurred due to incomplete verification of user input, which is used to steal funds from users who approved the vulnerable SocketGateway contract on the site. Today's hack on @SocketDotTech results in the loss of >$3.3m. The bad route exploited in the hack was added 3 days ago and is now disabled. Here are related txs: – add route tx: https://t.co/lxw7iA1kn4 – disable route tx:http...