CoWSwap has been hacked for $150,000, according to a statement endorsed by the DeFi protocol. According to the team, hackers took advantage of a code flaw in CoWSwap’s settlement contract and made away with $150,000. The amount lost was from fees collected by the DeFi platform. The good news is that the hack didn’t affect any of the protocol’s user funds. CoWSwap reiterated that though their settlement contract was impacted, the non-custodial nature of their operation means traders don’t have to “worry or revoke” transactions. They added that all trading activities are atomic, seemingly to reassure traders that the hack was contained. However, according to analysts’ breakdown, the hacker was specific. Notably, their target was CoWSwap’s settlement contract which stores fees collected by the protocol over the week. As a safety measure, the contract doesn’t interact with user funds. For access, the wallet owner must sign an order approving the transaction. Only then will the hacker gain entry to the user’s “limit-buy amount.”
Full story : CoWSwap Hacked For $150,000.
