MonoSwap Security Breach Urges Immediate Fund Withdrawals

MonoSwap, a prominent yield farming protocol, recently experienced a major security breach. The incident occurred after a malicious actor, impersonating a venture capitalist, installed malware on a developer’s system during a call. This phishing attack granted the perpetrators access to MonoSwap’s wallets and smart contracts, leading to the unauthorized withdrawal of a significant portion of staked liquidity.

In response, MonoSwap has advised users to refrain from adding liquidity or staking assets in its pools until further notice. The platform has urgently requested that users with staked funds withdraw them immediately to prevent potential losses. The team is actively investigating the breach and plans to provide further updates as more information becomes available.

“We are planning the refund options. The team will try its best to recover the hacked funds,” MonoSwap stated on the social media platform X.

About MonoSwap

MonoSwap is an innovative decentralized exchange (DEX) and launchpad integrated within the Blast framework. Renowned for its efficient and customizable protocol, MonoSwap offers builders and users unique features, prioritizing composability to enhance decentralized financial solutions. This design philosophy sets it apart from traditional DEXs, providing a more adaptable and flexible liquidity structure.

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