LI.FI releases security incident report: total loss of nearly $12 million, involving about 153 wallets

LI.FI released a security incident report showing that a "personal human error" during its smart contract update caused the protocol to be attacked by bad actors, with an estimated 153 wallets affected and nearly $12 million worth of USDC, USDT and DAI stablecoins lost. After detecting the security vulnerability, its team immediately launched an incident response plan and successfully disabled all vulnerable aspects of the chain. The vulnerability stems from a problem when verifying transactions, which is related to the way the protocol interacts with the shared LibSwap code base used by multiple decentralized exchanges and other DeFi protocols, due to "personal human errors during the oversight deployment process." (TheBlock)