In the wee hours of April 9, a bug in a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to losses amounting to over $3 million, according to security reports on Twitter from blockchain security firms CertiK Alert and Peckshield.

It seems the @SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss (about 1800 eth) from @0xSifu.

If you have approved https://t.co/E1YvC6VZsP, please *REVOKE* ASAP!

One example hack tx: https://t.co/ldg0ww3hAN pic.twitter.com/OauLbIgE0Q

— PeckShield Inc. (@peckshield) April 9, 2023

The approval function in Sushi’s Router Processor 2 contract—a smart contract that aggregates trade liquidity from multiple sources and identifies the most favorable price for swapping coins—appeared to be at the heart of the unusual activity. The exploit resulted in losses of roughly $3.3 million within a few hours.

DefiLlama pseudonymous developer 0xngmi suggested that only users who had swapped in the protocol during the past four days should be affected by the hack.

Sushi’s lead developer (head chef), Jared Grey, urged users to revoke permissions for all contracts on the protocol, stating, “Sushi’s RouteProcessor2 contract has an approval bug; please revoke approval ASAP. We’re working with security teams to mitigate the issue.” A list of contracts on GitHub with different blockc

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Author: Vince Dioquino

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