MonoSwap Hacked, Users Urged to Withdraw Funds Immediately

cryptonews.com:

MonoSwap urged its users on July 24 to withdraw funds immediately following a security breach that compromised its wallets and contracts.

According to MonoSwap’s latest social media post, one of the developers fell victim to a phishing attack, allowing hackers to gain access to critical systems and withdraw significant amounts of staked liquidity.

On July 23, the developer was deceived into installing a phishing application during a call with scammers posing as venture capitalists.

“The attackers installed the botnet into his office PC, which has access to all MonoSwap-related wallets and contracts,” the post read. “The hackers then withdrew most of the staked liquidity positions, causing damage to the protocol.”

“We are investigating the attack right now and will soon announce the next moves,” the company stated. “We were trying to work with VCs to build a better future for MonoSwap. However, unfortunate things happened and now we are trying our best to solve this issue.”