MonoSwap, a yield farming protocol, experienced a significant hack due to a phishing app installed by a developer. Users are urged to withdraw their funds immediately.
Points
- MonoSwap hacked due to a phishing app installed on a developer’s device.
- Users are advised not to add liquidity or stake in farming pools.
- The phishing app allowed attackers to access MonoSwap-related wallets and contracts.
- Most staked liquidity has been withdrawn by attackers.
- The team is investigating and will provide updates soon.
MonoSwap, a prominent yield farming protocol, has recently suffered a severe hack. This breach occurred after a developer inadvertently installed a phishing app during a call with scammers posing as venture capitalists.
🚨 ALERT: MonoSwap has been hacked. DO NOT add liquidity or stake in our farming pools at the moment.
If you have any staked positions, please withdraw immediately to avoid funds loss.
On July 23, 2024, one of MonoSwap’s developers installed a malicious phishing application while attempting to join a call with scammers. This app allowed the attackers to gain access to MonoSwap-related wallets and contracts, resulting in the withdrawal of most of the staked liquidity on the platform.
https://twitter.com/monoswapio/status/1816151998267547851
What is MonoSwap?
MonoSwap is a decentralized exchange （DEX） and Launchpad integrated into the robust Blast framework. The platform is celebrated for its efficient and customizable protocol, which offers unique capabilities for both builders and users, promoting adaptable liquidity.
MonoSwap stands out in the DeFi landscape due to its focus on composability, allowing for the integration of various financial instruments and services. This flexibility makes it a preferred choice for many developers looking to create innovative financial solutions.
Investigation and Next Steps
The MonoSwap team is actively investigating the incident and has promised to provide updates as soon as more information is available. The community is urged to stay alert and follow MonoSwap’s official channels for further instructions.
https://x.com/monoswapio/status/1816143852727845125