Dex 1inch was chopped: Okedated Smart Contract Program code made it easy for the attackers
- On March 5, 2025, Hacker used a weak point in the outdated smart contract from Fusion V1 and captured the equivalent of over $ 5 million.
- The attack underlines the risks of outdated software. Concerned investors are wondering how common such sloppiness could be on other projects.
Recently, 1inch, a liquidity aggregator platform, was via a weak point in her outdated Smart Contract attacked. So hackers managed to steal cryptocurrency worth around $ 5 million. The event makes the need to keep critical systems in terms of software on a current security standard.
Outdated code is a deeper cause of the disaster
On March 5, 2025, the 1inch team discovered suspicious activities that led to the fusion V1 Smart Contract hacked. Using the weaknesses in the outdated code, the hackers captured about 2.4 million USDC and 1,276 Weth-over $ 5 million.
Fusion V1 itself is no longer supported by 1inch. Although some resolvers still use the outdated, unsafe version Fusion V2, the latest issue contains larger security measures. This is an important lesson for everyone who is in default in an open source environment like Defi with upgrades; Hackers find easy goals here.
Defi security requires current updates
This episode shows how dangerous it is to combine technological innovations without security improvements. They always advise all integration partners – including the resoles – to an immediate update when 1inch publishes a new version of his protocol. But not all heed this advice; After all, some still work with systems that have security gaps.
This type of attack is nothing new in the crypto area. Like burglars that are targeting houses without alarm system or doors with outdated locks, hackers often look for weaknesses in outdated systems. Strategies to weaken the problem have been developed, but many system operators and users are not aware of the major risks associated with the postponement of security upgrades.
1inch Swap API-Integration von Rango Exchange
In addition to these negative news, there are also encouraging developments that show that many other platforms 1inch continue to trust. On March 6, 2025, Rango Exchange said that the 1-inch swap API is now being used. This measure aims to improve trading experience, liquidity and execution efficiency for your users.
Rango Exchange dealers can benefit from a more ideal trade version by this integration. Conversely, this also shows that 1inch remains a popular choice in the defi ecosystem despite the security problem.
Improved wallet security with Ledger Stax and Flex support
It is fascinating that 1inch continues to work to improve security for its customers when using his digital wallet. According to CNF, 1inch Wallet now supports Ledger Stax and Ledger Flex, two devices that are intended to increase transaction safety through easy-to-use e-link touchscreen functions.
Tony Fadell, the man behind the popularity of the iPod, developed Ledger Stax. With this device, users can personalize the 3.7-inch, curved e-link screen with NFTS or pictures of your choice. Ledger Flex emphasizes security, although its 2.8-inch flat screen is easier.
Although there are encouraging news about the development of the platform, the effects of this cyber attack in the industry can still be felt. The 1inch token is traded at around $ 0.2262 at the time this article is created; It has fallen by 1.04 % within 24 hours and 6.84 % in the last 7 days. This price fluctuation reflects the reaction of the market to the latest incident.
No Comments