ChainSwap

What happened

On July 2, 2021, ChainSwap, an Ethereum-BSC bridge protocol, was exploited via a bridge logic flaw where attackers bypassed signature verification by exploiting incorrect authQuotaOf implementation, allowing them to mint tokens across multiple protocols using the bridge and steal approximately $800K.

Details

Date

Jul 3, 2021

Kind

Hack or exploit

Method

Bridge Logic Flaw

How in

Bridge and cross-chain

Target

DeFi protocol

Chains

Ethereum, BNB Chain

After the theft

Frozen

yes, amount not stated
“After it was taken out, the ChainSwap team immediately froze the cross-chain bridge, shut down all nodes, and deployed the fix within 30 minutes.” (SlowMist Hacked)

Recovered or seized

yes, amount not stated
“Chainswap stated that after negotiating with hackers, it has recovered some of the CORRA and RAI tokens, and the total loss is estimated to be 800,000 US dollars.” (SlowMist Hacked)

Returned by the attacker

yes, amount not stated
“At present, a small amount of affected tokens have been repurchased from the market and returned to the contract wallet.” (SlowMist Hacked)

Victims reimbursed

yes, amount not stated
“In addition, Chainswap will also issue compensation to affected users.” (SlowMist Hacked)

Reported by

• DefiLlama ↗
• SlowMist Hacked ↗

Related incidents