Cryptocurrency markets are no stranger to hacking incidents that surface almost daily. Over the years, we have witnessed losses amounting to billions of dollars. Today, claims of a popular DeFi protocol’s website being hacked are causing concern among investors. If you are using SushiSwap, you need to revoke permissions immediately.
According to a statement made by a user moments ago, the SushiSwap protocol’s website has been hacked. Users who have connected their wallets to the website need to cancel permissions through Revoke Cash and secure their wallets. However, allegations that the issue is related to Ledger make using Revoke Cash risky. Attackers have caused tens of millions of dollars in losses using this method several times in 2023.
Following the news of the hack, the price of SUSHI Coin fell below $1.2 and remains under the influence of ongoing sales at the time of writing. If panic sales continue, it could fall back to the daily support levels of $1.16 and $1.11. In an extreme sell-off situation, the $0.948 region is seen as a strong support.
The CTO of Sushi confirmed the security issue while this article was being prepared and warned investors. Efforts to resolve the issue are ongoing.
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