DefiLlama Founder Launches Website to Help Users Check for SushiSwap Hackers

04/10/2023 01:17 • Tech Trends • 83 views

On April 10th, it was reported that DefiLlama founder 0xngmi has established a website that can help users check whether addresses have been affected by SushiSwap hackers and know which tokens require revocation of authorization.

DefiLlama founder launches a website that can check whether addresses are affected by SushiSwap hackers

In recent times, the decentralized finance (DeFi) market has been growing at an unprecedented rate, with more users flocking to the ecosystem. However, the growth of DeFi has also led to an increase in security threats, with hackers now targeting the market. On April 10th, it was reported that DefiLlama founder 0xngmi has established a website that can help users check whether addresses have been affected by SushiSwap hackers and know which tokens require revocation of authorization.

Understanding DeFi Security Threats

With the DeFi market making significant strides in recent times, it has become a prime target for hackers looking to reap massive profits. This has led to the increase in DeFi-related security issues such as smart contract vulnerabilities, flash loan attacks, and fraudulent activities. Hackers are always looking out for loopholes in the DeFi ecosystem to exploit and profit through crypto theft, as seen in the recent SushiSwap hack.

The SushiSwap Hack

SushiSwap is a decentralized exchange (DEX) and automated market maker (AMM) built on the Ethereum blockchain. On March 3rd, the project’s creator, Chef Nomi, liquidated all of his SUSHI holdings, causing the asset’s price to plummet by over 75%, from $10 to less than $2. This triggered a massive sell-off and a loss of over $1.5 billion. Moreover, it was later discovered that Chef Nomi had transferred control of the project to FTX founder Sam Bankman-Fried, who then took over as the new lead developer.

How DefiLlama Founder’s Website Can Help

In light of this recent security breach, DefiLlama founder 0xngmi has launched a new website to help users check whether their addresses have been affected by SushiSwap hackers. The website works by allowing users to enter their Ethereum wallet address, revealing whether the wallet has interacted with any of the malicious contracts.
Additionally, the website provides information on which tokens should be revoked due to authorization issues, helping users stay vigilant and secure their assets.

Conclusion

DeFi security remains a significant concern for users in the ecosystem, and the SushiSwap hack serves as a reminder of the potential risks. DefiLlama founder 0xngmi’s website is a valuable tool for users to check for any suspicious activity and revoke contract authorizations to secure their funds.

FAQs:

1. What is DeFiLlama?
DefiLlama is a DeFi aggregator that tracks the activity and performance of different DeFi protocols.
2. How can I use 0xngmi’s website to check my Ethereum wallet?
Simply enter your Ethereum wallet address on the website, and it will display any interactions with malicious contracts.
3. What is the SushiSwap hack, and how much was lost?
The SushiSwap hack was a security breach that led to a loss of over $1.5 billion.

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