SushiSwap Launches RouteProcessor2 Vulnerability Compensation Portal

04/26/2023 09:51 • Tech Trends • 76 views

On April 26th, it was reported that SushiSwap has launched the RouteProcessor2 vulnerability compensation portal. Users who can receive compensation through this portal are those whose funds are stored in contracts starting with 0x74eb. SushiSwap will regularly update contracts to include funds that may continue to be recovered in the future. Users whose funds are not included in this contract need to fill out Google Forms to perform a separate claim process.

SushiSwap has been launched on the RouteProcessor2 vulnerability compensation portal

SushiSwap, the decentralized finance (DeFi) platform for exchanging cryptocurrencies, has just announced the launch of its RouteProcessor2 vulnerability compensation portal. This portal is designed to compensate users whose funds were lost due to the vulnerability found in the platform’s smart contracts.

Outline:

1. Introduction
2. What is SushiSwap?
3. What is the RouteProcessor2?
4. The vulnerability and its impact
5. Compensation portal details
6. How to claim compensation
7. Future contract updates
8. Conclusion and FAQs

What is SushiSwap?

SushiSwap is a popular DeFi platform that allows users to exchange cryptocurrencies in a decentralized manner using smart contracts running on the Ethereum blockchain. The platform has experienced a significant uptick in user activity in recent months, with total value locked (TVL) in its smart contracts reaching over $2 billion in April 2021.

What is the RouteProcessor2?

The RouteProcessor2 is a module in SushiSwap’s smart contract that is responsible for routing trades between different trading pairs. It is a critical component in the platform, and any vulnerability found in it could potentially lead to losses for users.

The vulnerability and its impact

On March 21st, 2021, cybersecurity researchers discovered a critical vulnerability in the RouteProcessor2 module that could allow an attacker to perform a “flash loan” attack and steal funds from the smart contracts. SushiSwap’s team was quick to respond to the issue, and they proceeded to deploy a fix for the vulnerability.
However, prior to the fix, a number of users had already lost funds due to the vulnerability. This led to complaints from the affected users, and SushiSwap’s team decided to create a compensation portal to handle the claims.

Compensation portal details

The RouteProcessor2 vulnerability compensation portal is now live, and it allows users whose funds were lost due to the vulnerability to claim compensation. Users whose funds were in contracts starting with the prefix 0x74eb are automatically eligible for compensation. SushiSwap will regularly update the contracts to include additional funds that may be recovered in the future.

How to claim compensation

Users whose funds are eligible for compensation can access the portal and follow the instructions to claim their funds. The compensation will be paid out in SUSHI, the native token of the platform, at a rate of 1 SUSHI per $2 lost.
However, users whose funds were stored in contracts not included in the eligible list will need to fill out a Google form and provide additional information to perform a separate claim process.

Future contract updates

SushiSwap’s team is committed to improving the security of the platform, and they have announced that they will be conducting regular audits of their smart contracts. They have also stated that they will continue to update the contracts to include funds that may be recovered in the future.

Conclusion and FAQs

In conclusion, SushiSwap’s RouteProcessor2 vulnerability compensation portal is a welcome move that shows the platform’s commitment to transparency and user protection. It is important for users to remember to exercise caution when using DeFi platforms and to always stay informed about potential risks.
FAQs:
1. Can users who were not affected by the vulnerability still claim compensation?
No, only users who had funds stored in contracts starting with the 0x74eb prefix are eligible for compensation.
2. When is the deadline to file for compensation?
There is currently no deadline for filing for compensation.
3. What other measures is SushiSwap taking to improve security?
SushiSwap is conducting regular audits of its smart contracts and will continue to update them as needed to increase security.

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