ParaSwap may have been exploited: says security firm Web3
- A web3 security company posted on Twitter that the private key of ParaSwap’s deployer address may have been hacked.
- ParaSwap replied that they are investigating.
- The aggregator said it did not find any vulnerabilities or exploits and will release more information soon.
Supremacy, a Web3 security firm, has reached out to Twitter to warn decentralized exchange (DEX) aggregator ParaSwap that its private key for the deployer address may have been hacked. The post added that this may be due to the Profanity vulnerability and that assets have been stolen across numerous chains. Along with the post, the company included a link to the transaction details.
The security company said in its statement that the deployer’s address is associated with many multi-sign wallets, adding that they are looking for it.
Additionally, Supremacy adds that they may be able to work with ParaSwap to fix the issue. The security firm also asked ParaSwap to ensure that none of their other multi-sign addresses were created using profanity. Otherwise, there could be vulnerabilities in multi-sign wallets.
ParaSwap responded to the post by saying:
We’re investigating, but the address no longer has power after provisioning. Just paid for the gas and retired. Obscene addresses usually have trailing zeros.
A few minutes later, the aggregator said that no vulnerability was discovered and urged users to always fact-check and verify all information before trusting them.
Additionally, ParaSwap said they would do more research and explain what a deployer address is. They also added that they will explain how they made sure the deployer had no authority at all.
ParaSwap is a decentralized exchange aggregator with a stated mission to increase the number of people using DeFi by providing safe, smart and optimal trading solutions that allow both retail and institutional investors to access diverse pools of liquidity with little effort.
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