PANews, June 20: The Starknet AMM protocol mySwap disclosed in a post that its mySwap CL protocol suffered a vulnerability exploit, resulting in approximately $300,000 being drained from its liquidity pools. The official team stated that the mySwap interface has been offline for over six months and no longer accepts new liquidity deposits; the affected funds primarily consisted of remaining LP positions spread across more than 100,000 positions. The attacker used a bridge to steal the funds and obscured the asset trail using Railgun. This attack nearly exhausted all remaining liquidity in the protocol.
Starknet AMM Protocol mySwap Hit by Exploit, $300K in Liquidity Stolen
PANewsShare
Summary
mySwap, a Starknet AMM protocol, confirmed a $300,000 liquidity theft from its CL protocol. The exploit drained liquidity zones via a bridge and used Railgun to obscure the stolen assets. Over 100,000 positions were affected, and the protocol interface was shut down for more than six months. Value investing in crypto remains vulnerable to such risks as protocols face increasing security challenges. No new liquidity is being accepted.
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.