Coinspeaker
DeFi Aggregator ParaSwap Returns Assets to Victims of Smart Contract Bug

Decentralized finance (DeFi) aggregator ParaSwap has made a swift response to the vulnerability that befell its newly launched Augustus v6 smart contract last week. According to a recent X post, the platform claims that it has started returning crypto assets to users who were affected by the security breach.

The post details that ParaSwap’s recovery efforts, so far, have been largely successful. Especially for users who have already revoked permissions to the flawed AugustusV6 contract.

However, it also noted that 213 addresses have yet to revoke the permissions. Thereby, frustrating the efforts of the white hat hackers that are helping to salvage the situation.

For what it’s worth, revoking permission to a smart contract disables its functionality on a blockchain. This means that the contract will no longer have access to such a user’s wallet and tokens.

ParaSwap Highlights Growing Security Measures within DeFi Space

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