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- 🐞 SushiSwap: The $3M mistake!
GM, this is The Crypto Explorer. We're like that drink you gulp down so fast, you barely even taste it.
Here’s what we got for you today:
🐞 SushiSwap: The $3M mistake!
🩸 Ethereum staking deposits plummet
🧱 Around the block: Binance US can't find new bank partners
🐞 SushiSwap: The $3M Mistake!
SushiSwap had a bug in its smart contract that resulted in over $3 million in losses on April 9.
The bug only affected users who had swapped on the protocol over the past four days.
That’s some serious bad timing for those guys! 😕
It seems the @SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss (about 1800 eth) from @0x@0xSifu
If you have approved httetherscan.io/address/0x044b…lease *REVOKE* ASAP!One example hack tx: httetherscan.io/tx/0xea3480f1f…ttwitter.com/i/web/status/1…t
— PeckShield Inc. (@peckshield)
3:36 AM • Apr 9, 2023
Sushi's head developer (Jared Grey) has urged users to revoke permissions for all contracts on the protocol. A list of contracts requiring revocation was even created on GitHub to help resolve the issue.
But thankfully, a large portion of the affected funds was recovered through a white hat security process.
We've confirmed recovery of more than 300ETH from CoffeeBabe of Sifu's stolen funds. We're in contact with Lido's team regarding 700 more ETH.
— Jared Grey (@jaredgrey)
2:05 PM • Apr 9, 2023
🩸 Ethereum staking deposits plummet
Ethereum staking deposit is taking a dive.
Ethereum staking deposits have decreased in recent weeks due to increased regulatory pressure and the upcoming Shanghai hard fork scheduled for April 12th.
The long-awaited upgrade will enable Eth staking withdrawals.
It's no wonder people are hesitant to jump in. It's like they're waiting for Eth's price will react.
Nobody wants to be caught with their pants down. 😀
According to the Ethereum metrics tracking platform Ultrasound Money, there are currently 18.1 million ETH staked in total currently valued at around $33.7 billion.
That represents 15% of the entire supply. Once that upgrade hits, it's going to be like the grand prison break of the century! 🤣
🧱 Around The Block: Binance.US Can't Find New Bank Partners
🤼♂️ Arbitrum vs. Community: Community wants Arbitrum Foundation to return 700M ARB to DAO Treasury
🏦 Binance can't find bank partners: Binance US is unable to find bank partners in the United States.
🌋 Ploygon, the second best: Polygon becomes the second-largest gaming blockchain after user activity surges in March.
💸 LooksRare Launches v2: NFT marketplace LooksRare launches v2, reducing fees from 2% to 0.5%.
That's all we have for today.
We'd love your feedback.
In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.
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