03-21-2022 icon

Hacker Steals Over $600k From Li Finance in Latest Cross-Chain Exploit

By Lucy Adegbe
Bitcoin scams

The recent lineup of tweets on the official page of the Li Finance -Any-2-Any Swaps has buttressed the hitches experienced in its blockchain bridge leading to a loss of approximately 600,000 in dollars. 

Further details indicate the security breach occurred in the early hours of March 20, 2022, at 02:51 am UTC. The hacker proficiently raided 29 wallets of different amounts that reached a total of about $600k or valued at $587,500 as at the time of the tweet. 

Amongst the 10 hacked tokens that showed “infinite approval” to the Li-Fi swap feature are the Metaverse Index, DAI, USDC, MATIC, Audius, Jarvis Reward Token, Gnosis, Rocket Pull, AAVE, and Tether.

All embezzled tokens were swapped to Ethereum by the hacker and this 205 ETH is affirmed to still be in the swindler’s wallet. As stated by the team, efforts have been made to get in touch with the hacker. However, there hasn’t been any response at this time.

The company, in a release, said, “If you are reading this, we would be extremely grateful to provide a generous bounty and would obligate ourselves not to disclose any information about you.”

According to the team, all swapping operations were put on hold as soon as this fraudulent activity was noticed and there has been a setup to fix the loophole. There have also been set out measures to reimburse affected users.