SushiSwap suffers a $3.3 Million Exploit Due to Approval Bug

Sushi’s head developer, Jared Grey, alerted the community to revoke approvals immediately noting that recovery efforts are underway.

Written By:
Vismaya V

Last updated: April 30, 2025 11:57 AM

Published April 10, 2023 7:15 AM

Last updated: April 30, 2025 11:57 AM

Published April 10, 2023 7:15 AM

DeFi protocol SushiSwap suffers a $3.3 million exploit caused by an approval-related bug in its RouterProcessor2 contract.

It seems the @SushiSwap RouterProcessor2 contact has an approve-related bug, which leads to the loss of >$3.3M loss (about 1800 eth) from @0xSifu.

If you have approved https://t.co/E1YvC6VZsP, please *REVOKE* ASAP!

One example hack tx: https://t.co/ldg0ww3hAN pic.twitter.com/OauLbIgE0Q
— PeckShield Inc. (@peckshield) April 9, 2023

According to blockchain security analytics firm Peckshield, the bug caused the drainage of about 1800 ETH from user @0xsifu.

Sushi’s head developer, Jared Grey, alerted the community to revoke approvals immediately noting that recovery efforts are underway.

Security analytics firm Certik noted multiple users that had approved the contract had their USDC being transferred to another address.

Jared Grey later added that the SushiSwap team secured a large portion of affected funds in a whitehat security process. Grey also confirmed the recovery of more than 300 ETH ($55,766) from CoffeeBabe of user Sifu’s stolen funds.

The team is reportedly now in contact with Lido Finance’s team regarding 700 more ETH drained in the exploit.

Also Read: Euler Finance Attacker Returns All of the Stolen Funds

DeFiLlama team members 0xngmi tweeted that SushiSwap approvals done in the last two weeks are the most vulnerable to the exploit.

only users impacted by sushiswap hack should be those that swapped on sushiswap in the last 4 days, if you did so revert approvals asap or move your funds in affected wallet to a new wallet
— 0xngmi is hiring (@0xngmi) April 9, 2023

“If you did so revert approvals asap or move your funds in affected wallet to a new wallet,” 0xngmi added.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

Follow The Crypto Times on Google News to Stay Updated!