Base’s largest DEX LeetSwap halts buying and selling amid exploit issues

Decentralized trade LeetSwap, which operates on Coinbase’S Base community has introduced a sudden pause to buying and selling, citing issues of a possible exploit.

LeetSwap tweeted on Aug. 1 that it seen a few of its liquidity swimming pools might have been compromised and has briefly in a position stopped buying and selling to analyze.

Algorithmic market maker Wintermute’s analysis head Igor Igamberdiev was amongst these sharing theories on how the exploit might have labored, saying the attacker might have used an uncovered sensible contract perform.

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The perform would have allowed them to undertake a sequence of token swaps ultimately permitting them to empty liquidity swimming pools on LeetSwap.

It was simple:

– swap a little bit of WETH for X tokens (ought to have charges)
– name _transferFeesSupportingTaxTokens(deal with, uint256) to maneuver token to a Charges contract
– name sync()
– swap X tokens for all WETH from the pool

Do not suppose that this perform must be public

GG WP pic.twitter.com/a7vXvWf0HY

— Igor Igamberdiev (@FrankResearcher) August 1, 2023

Igamberdiev added the potential exploit has seemingly netted the attacker 342 Ether (ETH) price over $630,000.

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It is a creating story, and additional info might be added because it turns into out there.