LI.FI Project Loses $9 Million in Exploit
According to the team’s post on the social media site, X, the cross-chain blockchain protocol LI.FI has been exploited.
The team is currently investigating this hack, which seems to only affect users who manually adjusted certain features.
The LI.FI team has advised users to avoid interacting with any LI.FI powered applications until further notice. They are still looking into the potential exploit, and have reassured users that if they did not manually enable infinite approval, they are not at risk.
The team also urges users to visit their secluded revoke website to check if they may be at risk and revoke any unnecessary permissions.
This comes after four more security breaches were discovered. Security firm Decurity has determined that the “root cause” of the exploit was likely an unauthorized call made by a user using controlled data to a gas contract on Ethereum that was deployed five days ago for paying blockchain fees.
