It is reported that Socket/Bungee, the cryptocurrency ecosystem that mediates the transfer of cryptocurrencies between blockchains, suffered a hacking attack.
It has been claimed that the hacker has stolen $3.3 million worth of cryptocurrency so far. It is recommended that cryptocurrency users do not interact with these platforms until the next update.
Cryptocurrency security company Cyvers shared some details about the hacking incident as follows:
“Malicious transactions were detected in the Socket Gateway contract, 230 users were affected, there is a total loss of $ 3.3 million, mainly in USDC, USDT, WBTC DAI and WETH, the attacker exchanged USDC and USDT tokens for Ethereum.”
An official statement was made by Socket, the victim of the hacking incident:
“Emergency Socket has experienced a security incident affecting wallets that grant infinite validation to Socket contracts. We identified the issue and paused the affected contracts. “We are working on the situation and will keep you informed with regular updates and next steps.”
*This is not investment advice.