LI FI Cross-Chain Aggregator Suffers $9.73M Security Breach

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 16, 2024 22:25

LI FI, a cross-chain transaction aggregator, has recently suffered a security breach. Cybers Alerts has reported some transactions as potentially fraudulent and has recommended users to cancel them. The hacker has withdrawn over $9.7 million, mostly in stablecoins, and is swapping USDC and USDT for ETH. The LI FI team has recommended the users not to use any LI FI-based applications for now. They have given a list of addresses for which approvals should be withdrawn to avoid any further access.