TechFlow news: On January 26, according to PeckShieldAlert, Matcha Meta confirmed that SwapNet suffered a critical security vulnerability, resulting in approximately $16.8 million worth of cryptocurrency being stolen. This attack primarily affected users who had disabled the “one-time approval” feature. Security monitoring shows that the attacker has already swapped roughly $10.5 million worth of USDC for 3,655 ETH on the Base network and has begun transferring funds to the Ethereum mainnet. The SwapNet team has urgently disabled the affected contracts and launched an investigation. Security expert PeckShieldAlert advises users to immediately revoke approvals for all individual aggregators except the 0x one-time approval contract to prevent further losses.
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