Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13105
Markets: 101189
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
13105
Cryptocurrencies
60.37%
Bitcoin Share
BTC Pulse 2025-03-07 20:23:00

1inch Suffers $5M Hack Due to Smart Contract Vulnerability

1inch Suffers $5M Hack Due to Smart Contract Vulnerability

1inch Confirms $5M Hack After Smart Contract Exploit Decentralized exchange aggregator 1inch lost $5 million in cryptocurrency after an attacker exploited a vulnerability in smart contracts. The platform confirmed the hack but reassured that end-user funds were not impacted. On March 5, 1inch found the vulnerability that was affecting resolvers—entities responsible for filling orders—that utilized the outdated Fusion v1 implementation. The vulnerability was made public a day later. Tracing the $5M 1inch Hack Blockchain security firm SlowMist traced the hacked funds on March 7, and the hacker got away with 2.4 million USDC and 1,276 Wrapped Ether (WETH) tokens. 1inch clarified that only resolvers that used Fusion v1 were affected, and stated: “We’re actively working with affected resolvers to secure their systems. We urge all resolvers to audit and update their contracts immediately.” To prevent future attacks, the platform initiated bug bounty programs to detect and patch potential vulnerabilities, and to pursue the recovery of the hacked funds. Recovery Prospects Appear Slim The prospects for the recovery of the hijacked assets appear dim unless the attacker voluntarily returns the assets. Previously, some hijacked protocols recovered funds when hackers accepted white hat bounties, typically after retaining 10% of the hacked assets as a reward. Nevertheless, not all hacks have been resolved in this manner. Crypto’s largest-ever heist, the $1.5 billion Bybit hack, had North Korean hackers successfully siphoning funds off despite extensive community attempts to claw them back. Bybit’s Road to Recovery Despite the scale of the financial loss, Bybit managed to continue uninterrupted user withdrawals by borrowing emergency funds from other crypto companies, which were later repaid. The Bybit hackers washed $1.4 billion in stolen assets within a 10-day period. However, blockchain analysts believe that even with several asset swaps, a portion of the funds may still be traceable. According to Deddy Lavid, CEO of blockchain security firm Cyvers: “Although mixing and crosschain swapping complicates recovery, cybersecurity firms leveraging onchain intelligence, AI-based models, as well as collaboration with exchanges and regulators, still have slim opportunities to trace and even freeze assets.” The exploit also drove increased activity on THORChain, a crosschain swap protocol reportedly utilized by the Bybit hackers in an effort to anonymize their transactions. Securing DeFi The 1inch exploit highlights the ongoing security threats to decentralized finance (DeFi) platforms. As platforms work to mitigate risks, the importance of ongoing contract audits and security reinforcements remains paramount in preventing further exploits.

Most Read News



Cryptohopper
Market Cap
24h Vol
60.37%
Bitcoin Share
130
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.