LI.FI faced with the theft of funds for $600 thousand

Decentralized exchange aggregator Li.Finance suffered from an error in the smart contract code. The attacker managed to steal about $600,000.

A total of 29 wallets were affected. Twenty-five have already received compensation. To prevent similar situations in the future, the company agreed to conduct security audits more frequently.

The hack was committed on March 21st. The token exchange function was affected, and a total of 205 ETH was withdrawn from 29 wallets. They were withdrawn from swaps with MATIC, USDT, AAVE and other popular currency pairs.

During the day, we managed to find out that the stolen funds are still on the hacker's wallet. Representatives of the aggregator approached him with a proposal to return the stolen goods in exchange for a reward.

Within 18 hours, the error in the smart contact was corrected. Also, most received compensation. However, their total amount was only $80,000. Returning the rest of the lost funds will bring serious financial problems to LI.FI.

The victims were offered to convert the lost funds into angel investments in the development of the platform with the opportunity to receive LI.FI tokens. So far, whether the victims or the hacker made a positive decision has not been reported.

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