Another cryptocurrency project falls victim to an unknown hacker — $ 21 million stolen

The team of Transit Swap, a decentralized exchange (DEX) aggregator, has announced that an unknown person has exploited an internal error in a swap contract and withdrawn $ 21 million in user assets.

«We deeply regret that a bug in the code allowed a hacker to steal about $ 21 million. Peckshield blockchain analysts helped narrow the attack point to a compatibility issue or incorrect trust in the swap contract,» said Transit Swap representatives.

The team also assured that they have started hunting for the hacker: «We now have a lot of reliable information: The hacker’s IP address, email address, and related network addresses. We will do our best to track and contact him in order to help our clients recover their losses.»

During the investigation of the hack, experts determined from the hacker’s handwriting that he had already launched cyberattacks on well-known cryptocurrency exchanges in the past.