Unsiwap [UNI] rocked by sandwich attack, $25M stolen: Investigations show…

ambcrypto.com:

Uniswap [UNI] has become the latest casualty of exploits in the cryptocurrency industry. The attack was on the protocol’s Liquidity Pool (LP) and ended in the perpetrators carting away $25.2 million. A smart contract developer, who pseudonymously goes by Punk3155 on Twitter, alerted the community about the issue.

— 3155.eth (@punk3155) April 3, 2023

Realistic or not, here’s UNI’s market cap in BTC’s terms

The developer who monitored every step of the activity noted that it was likely the handwork of crook validators who joined the protocol 18 days back. He pointed out,

“Looks like a well-planned attack. becoming a validator 18 days ago, prepared the tokens 16 days ago.”

Blockchain security platform PeckShield Alert also chimed in on the cause and perpetrators. Through the investigation, the firm was able to locate where the stolen funds were transferred, with PeckShield noting that eight addresses that emerged from the KuCoin exchange were involved, and the funds were stored in three of them.

— PeckShieldAlert (@PeckShieldAlert) April 3, 2023

Further scrutiny of the event revealed that it was a sandwich attack. Sandwich attacks occur when atrocious traders look for a pending transaction within a network