Over the weekend, DeFi protocol SushiSwap was compromised, losing $3.3 million.
On April 9, hackers attacked a function approval smart contract, according to blockchain startups CertiK and Peckshield.
Researchers believe this attack targeted SushiSwap users who used the protocol between April 4 and April 9.
Hackers attacked the smart contract that collects trading liquidity from several sources and finds the best coin swap price, Cointelegraph said.
Hackers attack DeFi protocols by exploiting the platform's open-source code.
The US Treasury warned last week that DeFi services are being heavily exploited for unlawful transactions.
The Treasury's latest illicit finance risk assessment on decentralized finance indicated that infamous actors are abusing AML/CFT loopholes.
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