{"id":298465,"date":"2021-07-14T08:05:20","date_gmt":"2021-07-14T05:05:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chainswap-announces-compensation-and-deep-audit-plan-after-8m-exploit\/"},"modified":"2021-07-14T08:05:20","modified_gmt":"2021-07-14T05:05:20","slug":"chainswap-announces-compensation-and-deep-audit-plan-after-8m-exploit","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chainswap-announces-compensation-and-deep-audit-plan-after-8m-exploit\/","title":{"rendered":"# ChainSwap announces compensation and \u2018deep audit\u2019 plan after $8M exploit"},"content":{"rendered":"

“# ChainSwap announces compensation and \u2018deep audit\u2019 plan after $8M exploit <\/strong>”
\n<\/p>\n

Cross-chain asset bridge, ChainSwap, has announced a compensation plan for users after suffering an $8 million loss in its second exploit suffered this month.\u00a0<\/p>\n

ChainSwap supports the Ethereum, Polygon and Binance Smart Chain networks.<\/p>\n

On July 10, the hacker exploited a vulnerability allowing them to steal more than 20 different assets from the liquidity pools of partner exchanges. The incident has impacted the markets for numerous assets, with the tokens of Nord, Razor, Antimatter, and Ora among those taken by the attacker.<\/p>\n

ChainSwap\u2019s native token ASAP briefly fell more than 99% amid the incident. A separate hack on July 2 saw an attacker make off with roughly $800,000. <\/p>\n

On July 14, ChainSwap expanded<\/a> upon its plan to compensate impacted users through an airdrop based on their ASAP holdings prior to the hack, noting tokens held on the BSC and Huobi Eco Chain networks will be airdropped to the Ethereum mainnet.<\/p>\n

ChainSwap stated that 717,200 ASAP (worth roughly $150,000) were liquidated from its treasury and allocated to compensate affected partner projects, in addition to stablecoins from its \u201cteam fund.\u201d<\/p>\n

The project also noted it was able to withdraw liquidity providers\u2019 funds from Uniswap and force a burning of all hacked ASAP from the hacker\u2019s wallet after halting its bridge. ChainSwap is in talks with various auditing firms to get a \u201cdeep audit\u201d completed.<\/p>\n

Additional code testing, bug bounty programs and third party auditing processes will be implemented for future software releases from the team.<\/p>\n

Related: <\/em><\/strong>Your keys, his coins \u2014 Cryptopia employee admits to stealing $172K in crypto<\/em><\/p>\n

NFT project Wilder World was among those seriously affected by the incident, with the attacker gaining the ability to mint 20 million of its native WILD tokens to their address. The tokens were promptly dumped in a single transaction for $207,000 worth of Wrapp<\/a>ed Binance Coin, with the transaction briefly wiping more than 99% of the token\u2019s value. <\/p>\n

\n

6\/ Following the minting process, the attacker proceeded to sell 20,000,000 $WILD<\/a> in a single transaction on PCS in exchange for ~652.44 WBNB ($207,216.47 USD). This resulted in removing nearly all of the BNB liquidity from the $WILD<\/a>\/BNB PSC pool.<\/p>\n

\u2014 n3o (@real_n3o) July 11, 2021<\/a><\/p><\/blockquote>\n