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LiFi Protocol Under Attack with Over $10 Million Drained
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The Li.Fi protocol, an API that facilitates Ethereum Virtual Machine (EVM) and Solana (SOL) swaps and bridging, has fallen victim to a significant security breach, resulting in the loss of over $10 million in cryptocurrencies.
Hackers exploited vulnerabilities caused by approvals accepted from the malicious contract address to drain assets stored in the contracts and funds in users’ connected wallets.
According to reports from Cyvers Alerts, the breach involved suspicious transactions targeting the Li.Fi protocol through a specific contract address.
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