TechFlow reports, according to Cyvers Alerts monitoring, Loopring issued an official warning stating their smart contract wallet was attacked. The attacker successfully bypassed the 2FA service, impersonated the wallet owner, and obtained recovery approval from the official guardian, transferring assets to the attacker's address.
Cyvers Alerts noted that the stolen digital assets have been swapped for approximately $5 million worth of ETH. Other companies are advised to learn how to protect their assets to prevent similar incidents.
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