Hackers Steal $25.2 Million from Uniswap in Latest Attack
Uniswap, a decentralized finance (DeFi) platform, fell victim to a hacking attack which allowed the hackers to withdraw $25.2 million in digital assets. The theft was reported by Twitter user @lookonchain.
The attackers utilized the Sandwich method to carry out their attack on eight UNISWAP bullets. The stolen assets included $13.4 million in Weth, $5.3 million in USDC, $3 million in USDT, $1.8 million in WBTC, and $1.7 million in DAI.
Peckshield Security Agency confirmed the hack and identified eight addresses on the Kucoin exchange that received the stolen funds.
The Sandwich attack method is commonly used to manipulate prices on decentralized exchanges. Several transactions are simultaneously sent to the exchange to achieve a change in price.
This is not the first time Uniswap has been targeted by attackers. In 2022, the Uniswap V3 protocol was hit by a phishing attack aimed at collecting personal data for the theft of cryptocurrencies from user wallets. The hacker was able to steal ETH worth $8 million.