Transit Swap expressed regret when disclosing that a flaw in the code enabled a hacker to steal an estimated $21 million.
After a hacker exploited an internal flaw in a swap contract, Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost around $21 million. Following the disclosure, Transit Swap issued an apology to its customers while attempts are ongoing to retrieve the stolen monies.
Transit Swap expressed regret when disclosing that a flaw in the code enabled a hacker to steal an estimated $21 million.
SlowMist, Bitrace, and TokenPocket, among other investigators, joined Peckshield in the hunt for the hacker. The following flowchart demonstrates the circulation of the stolen assets, as described by Peckshield.
The continuing investigation suggested that the hacker may have withdrawn funds from recognized exchanges in the past. Transit Swap has vowed to share further information with the community in due time, adding “Thank you for your patience and confidence.”
Transit Swap has not yet replied to a request for comment from Cointelegraph. In response to the upgraded security measures introduced by cryptocurrency firms, hackers continue to refine their techniques for defrauding investors.
Recently, a hacker exploited a “poor code” vulnerability in an Ethereum (ETH) arbitrage trading bot to steal 1,101 ETH, worth around $1.41 million at the time of writing.
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