Hackers have exploited a vulnerability in DeFi aggregator 1inch’s resolver good contract, resulting in losses of over $5 million, in keeping with blockchain safety agency SlowMist.
The breach primarily affected outdated Fusion v1 resolver contracts, whereas common customers remained unaffected.
1inch confirmed the assault on March 6, explaining that the flaw had been recognized a day earlier. Efforts are actually underway to help affected resolvers and forestall comparable incidents, with the platform urging resolvers to replace their contracts.
Moreover, a bug bounty program has been launched, providing rewards between $100 and $500,000 to reinforce safety.
Regardless of the setback, 1inch continues to guide in DeFi, routing 38.2% of all decentralized change (DEX) quantity via aggregators in This autumn 2024. Nevertheless, its market share declined by 10% as rivals Odos and CoWSwap gained traction.
The platform’s complete buying and selling quantity surged by 104% quarter-over-quarter, reaching $1.09 trillion. Ethereum remained the highest blockchain for 1inch transactions, adopted by Base and Arbitrum.
