Not a day goes by in the cryptocurrency markets without a new hack case taking center stage. We’ve witnessed billions of dollars in losses over the years. Today, investors are unsettled by allegations that the website of a popular DeFi protocol was hacked. If you are using SushiSwap, you need to cancel permissions immediately.
SushiSwap Hacked
According to an announcement made moments ago by a user named officer_cia, the SushiSwap protocol’s website has been hacked. As the front-end was exploited, users who connected their wallets to the website need to cancel permissions through Revoke Cash and secure their wallets. However, claims that the error is Ledger-related also make Revoke Cash risky. Attackers used this method several times in 2023, resulting in tens of millions of dollars in losses.
Following the hack news, the price of SUSHI Coin fell below $1.2 and was under the influence of ongoing sales at the time of writing. If the panic sales continue, it could fall back to the daily lows of $1.16 and $1.11 supports. In the event of extreme overselling, the $0.948 region is seen as strong support.
The CTO of Sushi confirmed the security issue while this article was being prepared and warned investors. Work is ongoing to resolve the problem.
