TrustedVolumes loses $5.87M in smart contract hack

Liquidity provider TrustedVolumes has lost approximately $5.87 million in a hack that exploited a vulnerable smart contract, Web3 security firm CertiK reported. The attacker gained authorization by exploiting a publicly callable function, enabling the transfer of funds from the victim's wallet. In a related analysis, Blockaid suggested that the attacker is likely the same individual responsible for a $5 million hack that exploited a 1inch (1INCH) vulnerability in March of last year. However, Blockaid clarified that this latest attack exploited a different vulnerability related to a custom RFQ swap proxy managed by TrustedVolumes. TrustedVolumes serves as a liquidity provider for 1inch.