Narrow Miss For SushiSwap: White Hat Hacker Identifies Vulnerability

Just a few days after the Poly Network hack that caused a loss of over $600 million, a potential hack on SushiSwap worth around $350 million was averted by a white hat hacker who identified an exploit and worked with the DEX to fix the vulnerability.

The vulnerability was detected by a research partner at crypto-focused VC firm Paradigm in the smart contract code of BitDAO’s token sale on MISO scheduled to take place on Tuesday. Not only did this white hat hacker ‘samczsun’ find issues with the smart contract but he also discovered an exploit which malicious actors could have leveraged to drain all the ETH raised in the auction, which reached a total of $365 million.

After conducting further research with two of his colleagues, samczsun then reached out to SushiSwap’s CTO, Joseph Delong, to neutralize the potential threat before a hacker discovered it. Following this, the DEX decided to allow the BitDAO token sale to manually end the auction before the funds could be drained via the exploit. SushiSwap also announced a temporary halt on the use of MISO Dutch auction format until developers can update the smart contract code by removing the vulnerability.

SushiSwap is one of the most popular DEXs running on the Ethereum blockchain, second only to Uniswap. It boasts a TVL of over $4.5 billion at present, as per analysis by DeFi Llama.

ABOUT THE AUTHOR See More

Aiswarya Gopan

Financial Writer & Editor - Asia & Europe Desk

Aiswarya Gopan is a financial journalist, editor, and content strategist with more than 19 years of experience across financial markets, fintech, blockchain, and technology. She has worked with leading cryptocurrency exchanges, including BingX and KuCoin, driving content strategy, market research, and editorial initiatives covering digital assets, DeFi, Web3, and global financial markets. Drawing on a background in cybersecurity, technology journalism, and market research, Aiswarya specializes in translating complex financial and blockchain developments into clear, timely insights. At FX Leaders, she covers cryptocurrency, stocks, forex, and macroeconomic developments across the Asian and European trading sessions.

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