Another Crypto Protocol Falls Victim to Hackers

A crypto protocol just lost millions of dollars in altcoins during a major security breach, as reported by Cyvers Alerts.

In recent news, LiFi Protocol, an API facilitating Ethereum virtual machine (EVM) and Solana (SOL) swaps, is currently facing a significant security breach, resulting in the loss of over $8 million in cryptocurrencies.

Cyvers Alerts detected suspicious transactions involving a specific contract address within the LiFi protocol.

As a precautionary measure, Cyvers advised users to immediately revoke approvals linked to the address: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae.

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Alexander Stefanov