Founder of bankrupt exchange loses millions due to SushiSwap hack

A co-founder of the former Canadian cryptocurrency exchange QuadrigaCX lost 1,800 Ethereum units to a hacker attack on the SushiSwap exchange, an estimated loss of BRL 17 million.

The attack was confirmed by the decentralized exchange team, following a warning from the company PeckShield.

In dollars, the former member of QuadrigaCX was estimated to have lost 3.3 million of his net worth, and he himself shared the message, confirming the loss.

After a hacker attack, the decentralized exchange releases trading again

Last Sunday (9), SushiSwap confirmed a hacker’s attack on a smart contract, which caused problems for customers.

Quickly, the broker asked all its users who had been in contact with the contract to withdraw their consent to the protocol. In any case, despite the announcements, it’s still unclear how many users lost money from the attack.

Also on Sunday, the head of SushiSwap, Jared Gray, confirmed that the contract that was vulnerable had already been removed. For example, he said clients could safely return to trading with the brokerage.

“A few quick notes on SushiSwap, after exploring. 1. You can now safely trade/trade sushi. 2. We remove the exploited contract. 3. Confirm that you have removed approvals for the RouteProcessor2 contract under investigation here: sushi.com/swap/approvals.”

Apparently, in the initial inquiries into the case, Jared believes only 0xSifu may have been affected by the SushiSwap attack. Nevertheless, the case is still under investigation and the technical team is trying to recover the amounts lost by the customer.

It is worth remembering that users who have not yet revoked the malicious contract permissions still need to follow the security protocol to avoid losing their cryptocurrencies.

0xSifu’s misty past

Known on social media as 0xSifu, he was discovered in 2022 as the former founder of QuadrigaCX, a brokerage that suddenly went bankrupt after the possible death of its owner, taking cryptocurrency access keys with him.

To date, customers in the case, one of the most nebulous in the Canadian cryptocurrency market, have been unable to recover their values.

“Sifu” was discovered in January 2022 after research by ZachXBTa blockchain transaction detective who was able to confirm identity.

At the time, ZachXBT stated that 0xSifu has even participated in Internet identity theft programs in the past. However, it is unclear whether such reports are true or just rumours.

In any case, part of the cryptocurrency community found it interesting that a possible scammer was among those affected by a hacker attack.

Source: Live Coins

follow:
\