SushiSwap releases plan to return user funds stolen in $3.3M hack

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.

Timeline of Sushiswap

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.

On April 9, several security reports on Twitter revealed that a bug in a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to losses of over $3 million. According to CertiK Alert and Peckshield, blockchain security companies, the bug occurred in the approval function in Sushi's Router Processor 2 contract.

In the wee hours of April 9, a bug in a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to losses amounting to over $3 million, according to security reports on Twitter from blockchain security firms CertiK Alert and Peckshield. It seems the @SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss (about 1800 eth) from @0xSifu.

A smart contract bug in the popular decentralized exchange SushiSwap has led to the theft of about $3.3 million in Ethereum (ETH). According to the crypto analytics firm PeckShield, the bug is connected to the contract approval process and is related to an update that was implemented a few weeks ago.

In a recent fraud, the SushiSwap RouterProcessor2 contact has been discovered to have an approve-related bug. This flaw has resulted in the loss of over $3.3 million (roughly 1800 ETH) from 0xSifu.

Jared Grey, head chef of Japan-based DAO, Sushi, stated that no one associated with Sushi has violated U.S. federal security laws in response to a subpoena from the SEC. Grey is cooperating with the SEC and stated that it is unknown whether further subpoenas will be issued to others linked with Sushi.

On 9 April, numerous reports surfaced about a bug in a SushiSwap [SUSHI] feature that had already caused the loss of millions of dollars. Jared Gray, the CEO of SushiSwap, later verified the report and outlined the necessary measures to rectify the situation.

Sushi DAO's head chef, Jared Grey, has released a statement addressing the subpoena served against himself and the protocol by the United States Securities and Exchange Commission (SEC).

A critical vulnerability has been identified in the DeFi protocol Sushi's exchange services, with the exploit involving the ‘RouterProcessor2' contract used for trade routing on the SushiSwap exchange. The bug, first flagged by security firm PeckShield, has resulted in a loss of over $3.