ParaSwap Returns Funds to Users

ParaSwap, a decentralized finance aggregator, has started returning cryptocurrency to users after resolving a serious vulnerability in its newly launched Augustus v6 smart contract last week.

Last week, ParaSwap announced that it had found a security flaw in its newly launched smart contract. Thanks to the quick and effective actions of white hat hackers, a large loss of assets was prevented.

ParaSwap has now posted an update stating that it has returned all assets to wallets that were successfully recovered by the hackers, and has also revoked permissions to AugustusV6.

However, 213 addresses still have not revoked their access to the flawed contract. The process of revoking a smart contract involves disabling or terminating its functionality on a blockchain in order to prevent it from accessing a user’s wallet and assets.

Additionally, ParaSwap has submitted a detailed report to relevant authorities and has begun an investigation into the stolen funds. The team is working closely with blockchain security firms Chainalysis and TRM Labs to identify the hacker’s addresses and track the movement of the stolen funds.