Blast

2024

<p class="is-style-lead">MonoSwap, a yield farming protocol, has suffered a significant hack after a fake venture capitalist installed malware on a developer’s tech.&nbsp;</p>
<p>The yield-driven <a href="https://crypto.news/tag/DEX/" data-type="link" data-id="https://crypto.news/tag/DEX/" target="_blank" rel="noopener noreferrer nofollow">decentralized exchange</a> 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.&nbsp;</p>
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   <p lang="en" dir="ltr">🚨 ALERT: MonoSwap has been hacked. DO NOT add liquidity or stake in our farming pools at the moment.<br><br>If you have any staked positions, please withdraw immediately to avoid funds loss.<br><br>Yesterday, one of our developers installed a phishing app to join a call with scammers who…</p>— MonoSwap (@monoswapio) <a href="https://twitter.com/monoswapio/status/1816151998267547851?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 24, 2024</a>
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<p>The breach occurred after a MonoSwap developer installed a <a href="https://crypto.news/trader-loses-800k-in-crypto-to-malicious-google-chrome-extension/" target="_blank" data-type="link" data-id="https://crypto.news/trader-loses-800k-in-crypto-to-malicious-google-chrome-extension/" rel="noopener noreferrer nofollow">malicious</a> application during a call with a scammer posing as a venture capitalist.</p>
<p>This phishing app allowed attackers to access MonoSwap-related wallets and contracts, resulting in the withdrawal of most staked liquidity.&nbsp;</p>
<p>The team is currently investigating the incident and will provide updates soon.</p>
<p>“We are planning the refund options. The team will try its best to recover the hacked funds,” the company <a href="https://x.com/monoswapio/status/1816143852727845125" target="_blank" rel="noopener noreferrer nofollow">posted</a> on X.</p>
<p>You might also like: <a href="http://dYdX website compromised following news of sale" target="_blank" rel="noopener noreferrer nofollow"> dYdX website compromised following news of sale </a></p>
<h2 class="wp-block-heading" id="what-is-monoswap">What is MonoSwap?</h2>
<p>MonoSwap is a DEX and Launchpad integrated into the robust Blast framework.&nbsp;</p>
<p>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.</p>
<p>You might also like: <a href="https://crypto.news/interpol-targets-hong-kong-crypto-promoter-with-red-notice-over-384k-fraud/" rel="noopener noreferrer nofollow"> Interpol targets Hong Kong crypto promoter with red notice over $384k fraud </a></p>

MonoSwap suffers hack, urges users to withdraw funds

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