Critical Vulnerability in ParaSwap Contract Leads to Funds Being Drained

The ParaSwap AugustusV6 contract, which momentarily went live on March 18, contained a critical vulnerability that allowed hackers to drain funds from users who approved the upgrade.After a three-day voting period, 96.81% of ParaSwap voters agreed with the DAO ’s proposed method of compensating users.

The ParaSwap AugustusV6 contract, which momentarily went live on March 18, aimed to improve swapping efficiency and reduce gas fees. However, the contract contained a critical vulnerability, allowing hackers to drain funds from users who approved the upgrade. “The Foundation will cover the remaining costs linked to the vulnerability, including the refunds, the engagement of security analysts, conducting thorough contract re-audits, communication with authorities, and the formulation and execution of the refund process.”

Paraswap Augustusv6 Contract Vulnerability Hackers Funds Users Compensation Voting DAO Refund Treasury Funds

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