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Another day, another DeFi platform gets hacked. Today, Monoswap was hacked and investors need to be cautious. Less than 24 hours after the DYDX attack, another decentralized finance protocol has been breached.
Monoswap Hack
The team advised users to withdraw their funds from the platform. Investors should avoid staking and adding new funds until the issue is resolved. A developer “accidentally” installed a phishing application on the platform, leading to the theft of significant liquidity. This incident suggests that Lazarus might be involved.
Attackers approached a team member pretending to be an investor and took control of his computer. Monoswap has initiated an investigation. The recent announcement stated:
“MonoSwap was attacked. Do not add liquidity or stake in our farming pools at this time.
If you have any staking positions, please withdraw immediately to prevent fund loss.
Yesterday, one of our developers installed a phishing application to attend a meeting with scammers posing as VCs. The attackers loaded a botnet on the office computer, which had access to all wallets and contracts related to MonoSwap. The hackers then withdrew most of the staked liquidity, damaging the protocol.
We are currently investigating the attack and will announce our next steps soon. We were working with VCs to build a better future for MonoSwap. Unfortunately, this incident occurred, and we are doing our best to resolve it.”
