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Decentralized trade LeetSwap, which operates on Coinbase’s Base community has introduced a sudden pause to buying and selling, citing issues of a possible exploit.
LeetSwap tweeted on Aug. 1 that it observed a few of its liquidity swimming pools might have been compromised and quickly stopped buying and selling to research.
Algorithmic market maker Wintermute’s analysis head Igor Igamberdiev was amongst these sharing theories on how the exploit might have labored, saying the attacker may have used an uncovered sensible contract perform.
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The perform would have allowed them to undertake a collection of token swaps ultimately permitting them to empty liquidity swimming pools on LeetSwap.
It was straightforward:
– swap a little bit of WETH for X tokens (ought to have charges)
– name _transferFeesSupportingTaxTokens(tackle, uint256) to maneuver token to a Charges contract
– name sync()
– swap X tokens for all WETH from the poolDo not assume that this perform must be public
GG WP pic.twitter.com/a7vXvWf0HY
— Igor Igamberdiev (@FrankResearcher) August 1, 2023
Igamberdiev added the potential exploit has seemingly netted the attacker 342 Ether (ETH) price over $630,000.
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This can be a growing story, and additional data shall be added because it turns into accessible.
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