Blockchain security company Slowmist has reported that Defi -Aaggregator 1inch had contracted an exploit in the smart contract of the Resolver, which resulted in losing more than $ 5 million.
On March 7, Slowmist -founder Yu Xian unveiled That attackers have deposited approximately 2.4 million USDC and 1,276 depleted Ethereum (WETH) from the affected smart contract.
He clarified that regular users were largely unaffected, but resolvers with the help of the outdated Fusion V1 framework wore the attack of the attack.
1 inch confirms infringement
On March 6, 1 inch recognized The exploit, which states that the vulnerability was discovered the day earlier in certain resolver smart contracts.
The team confirmed that only resolver contracts with the outdated Fusion V1 implementation were influenced. They assured users that their money remained safe, with losses that were limited to affected resolvers.
After the incident, 1inch launched efforts to help affected resolvers secure their systems. The platform also insisted on all resolvers to check and update their contracts to prevent further attacks.
Resolvers play a crucial role in the 1 -inch ecosystem. These automated algorithms assess which orders to fulfill and act as market makers, and offer liquidity to 1 inch swappers.
Although the platform has not announced specific financial losses, it has introduced a BUG -Bounty program to collect more insights into the incident.
The program offers rewards between $ 100 and $ 500,000. At the time of writing, 1inch received 58 entries and paid $ 200 in premiums.
1 inch ecosystem growth
Despite these setbacks, 1 inch remains a dominant player in the Defi sector, according to the last of Messari report.
The report noted that 1inch 38.2% of all DEX volume faciled block chains in the fourth quarter of 2024 by aggregators.
However, the market share fell by 10% quarter-over quartaal, because competitors have won ODOs and Cowswap Grip.
Nevertheless, the trade volume of 1Onch Decentralized Exchange (DEX) increased by 104% quarterly over-Queen, rose from $ 493.5 billion to $ 1.09 trillion.
The aggregation protocol, responsible for running most transactions on 1 inch, registered an increase of 37% in the daily average volume and reached $ 369.7 million in Q4.
Ethereum led as the dominant blockchain for 1 inch transactions, accounting for 66% of the volume of the aggregation protocol.
The base supported by Coinbase came to the fore when the second largest chain with a market share of 11%, which exceeds Arbitrum, fell from 14%to 10%. These three networks contributed 87% of the total volume of the platform.