Attacks on the cryptocurrency market still continue. In this context, the decentralized exchange Uniswap was the target of attackers.
It turned out that Uniswap was hacked for $ 25.2 million using the "Sandwich" method.
Popular on-chain data platform Lookonchain announced that eight addresses stole $25.2 million worth of cryptocurrencies from eight different pools using the Sandwich method.
The stolen coins include Wrapped ETH, USDC, USDT, Wrapped BTC and DAI.
"Steal $25.2 million in assets from 8 Uniswap pools with 8 address Sandwich attacks.
These assets include 7,461 WETH, 5.3 million USDC, 3 million USDT, 65 WBTC, 1.7 million DAI.
These 8 addresses are funded by Kucoin."
— Lookonchain (@lookonchain) April 3, 2023
What is the Sandwich Method?
This method primarily targets decentralized finance protocols and platforms.
It is the type of attack carried out by the attacker to manipulate the price and profit from the resulting price change.