swapnet

🧨 MATCHA META DEX HIT BY $16.8M SWAPNET EXPLOIT
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Decentralized exchange aggregator Matcha Meta suffered a major smart-contract exploit tied to its SwapNet integration, with security firm PeckShield reporting a ~$16.8 million drain in crypto assets. The attacker swapped roughly $10.5M in USDC for 3,655 ETH on Base before bridging funds to Ethereum, highlighting persistent DeFi risks around token approvals. Users are being urged to revoke token permissions immediately to protect wallets.
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📰 Sources: The Block, Cointelegraph, PeckShieldAlert
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#MatchaMeta #DEXHack #SwapNet #DeFiRisk #Mag7Earnings

🚨 BREAKING | SWAPNET HIT BY $16.8M EXPLOIT

#SwapNet has suffered a major security breach, with ~$16.8M in crypto assets stolen. The exploit mainly affected users who did not enable one-time approval.

Attackers have already swapped ~10.5M $USDC into ~3,655 #ETH and begun moving funds across chains.

#CryptoSecurity #Ethereum #USDC

🚨 Cryptocurrency Alert: Over $34 million lost overnight
The market has just awakened, and hackers are already at work. In the past few hours, two major attacks have occurred, resulting in total user asset losses exceeding $33.8 million.
Here are the key points you need to know:
1️⃣ SwapNet & Matcha Meta (loss of approximately $16.8 million)
The SwapNet infrastructure protocol was attacked on the Base network. Hackers have exchanged approximately $10.5 million USDC for 3655 ETH and have begun cashing out through the Ethereum network.
⚠️ Matcha Meta users please note: The victims this time are primarily those users who have disabled the “One-Time Approvals” option. The Matcha team has temporarily removed the related restriction feature and is asking all users who previously disabled this option to turn it back on immediately.
2️⃣ Developer Smart Contract Vulnerability (loss exceeding $17 million)
Experts from BlockSec have discovered unusual transactions from two developer addresses across Ethereum, Arbitrum, Base, and BSC networks.
Hackers exploited an “arbitrary function call” vulnerability in non-open-source smart contracts. In short: Hackers took advantage of existing token approvals by executing the transferFrom command to directly siphon off assets.
📍 Hacker's receiving addresses:
• 0xbeef63AE5a2102506e8a352a5bB32aA8B30B3112 (approximately $3.67 million)
• 0x9cb8d9BaE84830b7f5F11ee5048c04a80b8514BA (approximately $13.41 million)
🛡 What should you do?
Immediately check your token approvals through Revoke.cash or similar tools, and revoke authorization for suspicious or long-unused protocols. If you use Matcha, make sure to enable One-Time Approvals. Stay alert: non-open-source contract code often harbors higher security risks.
Protect your assets! 🔒
#安全警报 #黑客攻击 #SwapNet #MatchaMeta #加密新闻

🤓 Protocol #SwapNet hacked for $16.8 million

🚨 DeFi Alert: $17M drained by a "convenience click." Are you at risk?
The aggregator SwapNet just suffered an exploit of $16.8 million. The concerning part is not just the figure, but HOW it happened: it affected users who disabled the "Single Approval" in search of speed.
The Risk Scenario: Many traders use "Infinite Approvals" to save time and gas. But that's like leaving your front door open. The attacker exploited the SwapNet router contract on Base and Ethereum to drain the wallets.
Reflection for the 2026 cycle: As we discussed today with BitGo's IPO, this year the market will not reward "hype," but rather secure infrastructure. If you don't safeguard your keys and permissions, the market will take them from you.
Do you usually use infinite approvals to save gas or do you prefer to sign each transaction? 👇
#DeFi #Security #SwapNet #CryptoSafety $ETH

🔓 Hacking #SwapNet : losses amounted to $16.8 million According to PeckShield, the infrastructure protocol SwapNet was subjected to a hacker attack, as a result of which the attackers stole about $16.8 million. Experts warn that users who have not disabled the One-Time Approvals feature remain at risk. SwapNet is used by many DEX platforms and aggregators for executing swaps, making the incident particularly sensitive for the decentralized ecosystem.