Huo Xing Cai Jing reports that on July 23, according to Specter monitoring, a long-inactive PancakeSwap liquidity provider (LP) lost approximately $2.96 million after signing a malicious EIP-7702 authorization. The attacker removed approximately $1.48 million in BSC-USD and $1.48 million in BUSD liquidity provided by the victim and exchanged the BUSD for ETH. The attacker has since deposited approximately $1.46 million into Tornado Cash, while the remaining $1.48 million in USDT is still held in the attacker’s address.
PancakeSwap LP loses $2.96M after signing malicious EIP-7702 authorization
MarsBitShare
Summary
A PancakeSwap liquidity provider lost $2.96 million after authorizing a malicious EIP-7702 transaction, MarsBit reported on July 23. The attacker drained $1.48 million in BSC-USD and $1.48 million in BUSD, swapping the latter for ETH. Approximately $1.46 million was sent to Tornado Cash, while $1.48 million in USDT remains in the attacker’s wallet. Liquidity pools remain a key focus for crypto value investing, but risks persist with improper authorizations.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.