SushiSwap: price dump for the crypto, but the DEX gains in monthly volumes

Obviously, the SEC's latest indictments against centralized crypto-exchanges like Binance and Coinbase has affected the entire crypto market a bit, but while SUSHI is dropping in price, it does seem to be registering increases in monthly volume on the DEX.

Timeline of Sushiswap

The price of SUSHI, the native token of SushiSwap, a decentralized exchange, is down 45% from February 2023, when prices peaked at $1.63, the highest level in six months. SushiSwap Token Redesign This contraction is despite the successful implementation of a proposal to redesign SUSHI's tokenomics, making SUSHI, a governance token, more deflationary.

SushiSwap, a popular decentralized exchange (DEX), is launching its concentrated liquidity pools on 13 networks, per a recent statement. SushiSwap's Concentrated Liquidity Pools This marks the most comprehensive deployment of concentrated liquidity pools, or V3 pools to date, and SushiSwap is the first DEX to offer such a broad coverage.

SushiSwap faces the problem head-on as it begins the procedure to reimburse users affected by recent exploits. The protocol asked the Lido governance for help to recover some of the funds that were lost.

SushiSwap is now safe to use after attackers drained more than $3 million last weekend, the blockchain protocol said Wednesday. It is now preparing to return some of the stolen funds to affected users, though not all are expected to recoup their losses quickly.

DeFi trading protocol SushiSwap is preparing to launch a claims website for vested SUSHI tokens held in the protocol's Merkle Distributor contract, pending an audit, SushiSwap Head Chef Jared Grey said Wednesday on Discord.

SushiSwap has retrieved $186,000 worth of ETH from a hacker who drained over $3.3 million worth of ETH on April 9. The exchange has since then laid out plans of how affected users can claim lost funds.

SushiSwap has announced a commitment to reimburse all affected users after being hacked over the weekend. User funds were either “swept by whitehat security teams” or “lost to blackhat hackers,” according to the decentralized exchange.

SushiSwap — which suffered a hack over the weekend — has released a plan to return funds to all affected users. According to the decentralized exchange, user funds were either “swept by whitehat security teams” or “lost to blackhat hackers.

In an exclusive interview with crypto.news, pseudonymous white-hat hacker known as Trust has shared crucial details regarding a recent hack that took advantage of a vulnerability in the RouteProcessor2 contract.

SushiSwap [SUSHI] recently fell victim to a white hat exploit, which resulted in a loss of millions of dollars worth of Ethereum [ETH]. For context, SushiSwap faced a router processor bug on 9 April 2023, causing a loss of nearly 1800 ETH, which was worth more than $3 million.