MonoSwap Suffers Hack, Urges Users To Withdraw Funds
MonoSwap, a yield farming protocol, has suffered a significant hack after a fake venture capitalist installed malware on a developer’s tech.
The yield-driven decentralized exchange urged users not to add liquidity or stake in its pools until further notice. Those with staked funds should withdraw immediately to avoid potential losses.
The breach occurred after a MonoSwap developer installed a malicious application during a call with a scammer posing as a venture capitalist.
This phishing app allowed attackers to access MonoSwap-related wallets and contracts, resulting in the withdrawal of most staked liquidity.
The team is currently investigating the incident and will provide updates soon.
“We are planning the refund options. The team will try its best to recover the hacked funds,” the company posted on X.
MonoSwap is a DEX and Launchpad integrated into the robust Blast framework.
The MonoSwap platform is known for its highly efficient and customizable protocol, which offers unique capabilities for builders and users and fosters adaptable liquidity. Compared to traditional DEX designs, MonoSwap prioritizes composability, thus redefining decentralized financial solutions.
Ether Surges 16% Amid Speculation Of US ETF Approval
New York, USA – Ether, the second-largest cryptocurrency by market capitalization, experienced a significant surge of ... Read more
BlackRock And The Institutional Embrace Of Bitcoin
BlackRock’s strategic shift towards becoming the world’s largest Bitcoin fund marks a pivotal moment in the financia... Read more
Robinhood Faces Regulatory Scrutiny: SEC Threatens Lawsuit Over Crypto Business
Robinhood, the prominent retail brokerage platform, finds itself in the regulatory spotlight as the Securities and Excha... Read more
Ethereum Lags Behind Bitcoin But Is Expected To Reach $14K, Boosting RCOF To New High
Ethereum struggles to keep up with Bitcoin, but experts predict a rise to $14K, driving RCOF to new highs with AI tools.... Read more
Ripple Mints Another $10.5M RLUSD, Launch This Month?
Ripple has made notable progress in the rollout of its stablecoin, RLUSD, with a recent minting of 10.5… Read more
Bitcoin Miner MARA Acquires Another $551M BTC, Whats Next?
Bitcoin mining firm Marathon Digital Holdings (MARA) has announced a significant milestone in its BTC acquisition strate... Read more