LeetSwap

WETH

Coin

<ul class="news-points"> 
 <li>LeetSwap has been exploited, resulting in a loss of $624,300, confirmed CertiK alert.</li> 
 <li>Exploiter manipulated the price through vulnerable LP contract functions, causing the attack, as per security firms.</li> 
 <li>Wintermute’s Igor Igamberdiev explained the exploit’s details, calling for function privacy.</li> 
</ul> 
Operation on <a href="https://coinedition.com/coinbase-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">Coinbase’s</a> base network, decentralized exchange LeetSwap has reportedly been exploited, claiming a loss of about 342.5 ETH, or roughly $626K+. According to crypto sleuth CertiK Alert, the attacker manipulated the price by invoking a vulnerable function on the Liquidity Provider (LP) contract, transferring tokens to a fee address, and then effortlessly purchasing all the WETH tokens. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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 <a href="https://twitter.com/hashtag/CertiKSkynetAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#CertiKSkynetAlert</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Liquidity pairs of <a href="https://twitter.com/LeetSwap?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@LeetSwap</a> have been exploited. The exploiter 0x5B03 holds approximately 342.5 ETH (~$624.3K). See more details on Skynet <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/jtKOTddHsA" target="_blank" rel="noopener noreferrer nofollow">https://t.co/jtKOTddHsA</a> Stay safe!— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1686200262120144896?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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Wintermute’s head of research, Igor Igamberdiev, <a href="https://twitter.com/FrankResearcher/status/1686201185273782272" target="_blank" rel="noopener noreferrer nofollow">explained</a> how the exploiter managed to manipulate the price effortlessly in detail. First, they conducted a small swap of WETH for X tokens, ensuring that fees were incurred during the tran… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/exploit-on-leetswap-leads-to-loss-of-624k-due-to-price-manipulation/">Exploit on LeetSwap Leads to Loss of $624K Due to Price Manipulation</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Exploit on LeetSwap Leads to Loss of $624K Due to Price Manipulation

Coin Edition

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