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A hacker or group of hackers conducted a phishing attack in a large liquidity pool Uniswap V3 (LP). They managed to steal liquidity positions in the form of NFT in the amount of approximately 3,278 ETH (3,563,644 dollars).
A criminal or a group of scammers managed to impersonate the Uniswap V3 website and trick the liquidity pool provider into signing malicious transactions.
Recall that Uniswap liquidity positions are presented in the form of NFT. They allow customers to use them as collateral to get a loan paid in stablecoins and blue-chip assets. All stolen items in the form of NFT were laundered through the cryptocurrency mixing service Tornado Cash, according to the data in the address chain.
What damage has been done to Uniswap V3
The exact amount taken from the campaign is not yet known. Now we are talking about 3.5 million dollars. Perhaps it will soon increase. The phishing attack, as a result of which some NFT liquidity pools were seized from persons who approved malicious transactions, was confirmed by Uniswap founder Hayden Adams in a tweet. He once again urged all users not to click on suspicious links!
The CEO of Binance also commented on the situation, praising the exchange team with efficiency:
In such situations, speed is important. The Uniswap team reacted very quickly. Straight to the point and knows his stuff. Great job!
As a result of the attack, the price of UNI, the native token of the protocol, fell by more than 11% per day, from 6.29 to 5.56 dollars. Now the company has launched an internal investigation of the incident, the results of which will be reported. The client will be acquainted with it as soon as all the information about the attack and the damage from it appears.
While the team is investigating how a hacker or an organized group of scammers was able to find the vulnerability. This event will certainly affect the reputation of the platform. However, it is not worth arguing that customers will begin to leave it en masse. Unfortunately, we have to admit that hacks, phishing attacks have already become a familiar event for the cryptocurrency market and DeFi. Companies incur losses, users lose money, but already such events do not cause such a stir as 3 years ago.
Hackers are using many opportunities to discover the vulnerabilities of exchanges and protocols, and they are succeeding more and more often. Despite the fact that platforms and exchanges invest heavily in ensuring the security of these measures are not yet enough. Now Uniswap has become another victim of the attack.
Author: Vadim Gruzdev, Analyst Freedman Club Crypto News
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