ParaSwap Says it Will Return Funds to Users Affected by a Vulnerability

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After fixing a critical vulnerability in the recently launched Augustus v6 smart contract, the decentralized exchange liquidity aggregator ParaSwap has now started returning cryptocurrency to its users.

As per the platform’s announcement, there are still 213 addresses that have not yet revoked permissions. On March 20, the ParaSwap team made public that they had detected a vulnerability in the smart contract, but were able to respond swiftly to the incident.

“We immediately took action by suspending the V6 API and carrying out a white hack that ensured the safety of funds for those at risk. These funds are now securely held in a protected wallet,” stated a representative from the liquidity aggregator.

ParaSwap also mentioned that they are working with law enforcement agencies, in addition to initiating contact to identify the hackers’ addresses and urging them to return the stolen funds.

If the attacker does not cooperate by March 27, ParaSwap has declared that they will use all available legal and administrative measures to recover the assets.