If you use SushiSwap recently you need to REVOKE to prevent losses due to an Approve-related Bug, here is how!
The incident was first spotted by Peck Shield, a blockchain security and data analytics company. An approval bug on a smart contract on the decentralized finance (DeFi) SushiSwap exploited to over $3 Million in losses in April 9.
It seems the @SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss (about 1800 eth) from @0xSifu.
If you have approved https://t.co/E1YvC6VZsP, please *REVOKE* ASAP!
One example hack tx: https://t.co/ldg0ww3hAN pic.twitter.com/OauLbIgE0Q
— PeckShield Inc. (@peckshield) April 9, 2023
And here is a nice totorial from LookOnChain to revoke the contract to prevent further and similar losses:
1/ Today, @0xSifu lost 1,800 $ETH ($3.3M) due to approve related bug of the SushiSwap contract.
To avoid similar losses, you should review the contracts you have approved and revoke those that are suspicious.
Here is a tutorial on how to revoke.👇 pic.twitter.com/2I9RVuqdMX
— Lookonchain (@lookonchain) April 9, 2023
Make sure you didn’t approve these contracts and REVOKE as soon as possible. Always remember to take extra precautions with DeFi since they are all in experimental stages! It is very important to move funds out of the effected wallets plus you need to have separate wallets for investing, trading or airdropping nevertheless.
According to DefiLlama pseudonymous developer 0xngmi:
only users impacted by sushiswap hack should be those that swapped on sushiswap in the last 4 days, if you did so revert approvals asap or move your funds in affected wallet to a new wallet
— 0xngmi (llamazip arc) (@0xngmi) April 9, 2023
However if you are impacted you need to REVOKE all contracts involved in the last 7-10 days and you can track the exploit on Dune!