LiFi Protocol, an API for Ethereum virtual machine (EVM) and Solana (SOL) swaps bridging, is currently under attack, with over $8 million in cryptocurrencies already drained. The attack involves a specific contract address, and Cyvers Alerts has identified suspicious transactions. Users are advised to revoke their approvals for the address: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae. Meir Dolev, co-founder and CTO at Cyvers, emphasized the need for protocols to be vigilant against such exploits.

LiFi Protocol, an API for Ethereum virtual machine (EVM) and Solana (SOL) swaps bridging, is currently under attack as over $8 million in cryptocurrencies have already been drained. According to Cyvers Alerts, the team’s systems raised suspicious transactions on LiFi protocol involving a specific contract address . Cyvers recommended that users revoke their approvals for the suspected address: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae Speaking with Cointelegraph, Meir Dolev, co-founder and CTO at Cyvers, explained that that protocols must be vigilant. "...hackers can exploit these approvals to drain both assets stored in the contracts and funds in the connected wallets of users." Related: Filipino artists hacked to promote XRP scam This is a developing story, and further information will be added as it becomes available. 

$8M Drained in LiFi Protocol Hack, Users Urged to Revoke Approvals