Transit Swap has lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to the users while efforts to track down and recover the stolen funds are underway.
Transit Swap revealed that a bug in the code allowed a hacker to make away with an estimated $21 million. Blockchain investigator Peckshield narrowed down the attack to a compatibility issue or misplaced trust in the swap contract.
The ongoing investigation hinted that the hacker may have performed earlier withdrawals from known exchanges. Transit Swap has promised to share more details with the community in due time, adding that “Thank you for your understanding and trust.”
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