LeetSwap has been exploited, resulting in a loss of $624,300, confirmed CertiK alert.
Exploiter manipulated the price through vulnerable LP contract functions, causing the attack, as per security firms.
Wintermute’s Igor Igamberdiev explained the exploit’s details, calling for function privacy.
Operation on Coinbase’s base network, decentralized exchange LeetSwap has reportedly been exploited, claiming a loss of about 342.5 ETH, or roughly $626K+. According to crypto sleuth CertiK Alert, the attacker manipulated the price by invoking a vulnerable function on the Liquidity Provider (LP) contract, transferring tokens to a fee address, and then effortlessly purchasing all the WETH tokens.
#CertiKSkynetAlert Liquidity pairs of @LeetSwap have been exploited.The exploiter 0x5B03 holds approximately 342.5 ETH (~$624.3K).See more details on Skynet https://t.co/jtKOTddHsAStay safe!
— CertiK Alert (@CertiKAlert) August 1, 2023
Wintermute’s head of research, Igor Igamberdiev, explained how the exploiter managed to manipulate the price effortlessly in detail. First, they conducted a small swap of WETH for X tokens, ensuring that fees were incurred during the tran…
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