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Cross-chain DeFi protocol Li.Fi is suspected of losing up to nearly $9 million in cryptocurrencies in an exploit, according to blockchain security firm CertiK said Tuesday.
A wallet linked to the alleged hack contained $8.7 million in digital assets on Tuesday, including nearly $6 million in Ethereum (ETH) as well as various amounts of several stablecoins, according to CertiK. The exploit, which is still under investigation, appears to have targeted some Li.Fi users who manually adjusted their account settings, the protocol’s team said in an X-rated post on Tuesday.
“We are investigating a potential breach,” Li.Fi said. said Tuesday in the post. “If you don’t have infinite approval set, you’re not in danger.”
It is not yet clear whether the exploit continues to pose a risk to Li.Fi users. Li.Fi did not immediately respond to Decryptrequest for comments on the matter.
The crypto wallet suspected of holding the stolen funds contains approximately $5.8 million in ether, in addition to stablecoins USDC, USDT and DAI, blockchain data shows. watch.
Li.Fi on Tuesday urged users to “immediately use our isolated revocation website,” noting that it had identified four additional security flaws in a Twitter post (aka X).
According to Li.Fi, users must revoke their permissions via revoke.cash. Traders can visit scan.li.fi to check if their accounts have been compromised.
A hacker likely exploited a vulnerability in the Li.Fi bridge, crypto security firm Decurity said in a statement Tuesday. job on Twitter.
“The root cause is the possibility of an arbitrary call with user-controlled data via depositToGasZipERC20() in GasZipFacet which was deployed 5 days ago,” Decurity wrote.
Li.Fi has suffered considerable losses due to security issues in recent years. In 2022, a bug in the protocol’s exchange function led to losses of $600,000 in crypto, according to a report autopsy Li.Fi attack analysis on Medium.
Edited by Andre Hayward
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