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Bridging Protocol LI.FI Hit by Exploit

The protocol saw more than $10M in user funds drained due to a 'call injection' exploit.

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Cross-chain blockchain protocol LI.FI has lost $11.6 million in an exploit, but says operations are now back to normal.

What's the scoop?

  • User Advisory: The team has asked users to avoid the protocol and revoke permissions if you have set unlimited permissions on tokens through LI.FI or Jumper Exchange.
  • Recurring Issues: Security firm Peckshield alleges a similar attack affected LI.FI in 2022.
  • Security Measures: LI.FI advises users to use a site like Revoke.Cash to revoke permissions as soon as possible. (Learn how to use Revoke Cash here.)

Bankless Take:

This LI.FI exploit is another painful reminder of the importance of constant onchain vigilance and the need for diligent security practices. The hack originated from a new contract deployed five days ago to pay gas fees on Ethereum. While the LI.FI team has already sprung into action and is working with law enforcement to hopefully recover the funds, we should all take this as a lesson to regularly review and revoke unnecessary onchain permissions to safeguard our bags.

* Bankless team holds crypto assets and advise crypto projects. Li.Fi is included in our disclosures. See our complete investment disclosures here

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In The Article
Ethereum Ethereum Jumper Exchange Jumper Exchange Li.Fi Li.Fi*
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David C

Written by David C

369 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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