Cross-Chain Router Exploited in $3.2 Million Hack

A recent cyber attack on a third-party contract has left several crypto experts concerned about the security of cross-chain routers. On May 26, an attacker exploited a vulnerability in the SquidRouterModule, draining around $3.2 million from 86 Gnosis Safe accounts across Ethereum and Base.

Squid, the protocol behind the affected router, has since distanced itself from the incident, stating that it did not develop or deploy the compromised contract. The actual Squid Router, which is a separate entity, remains unaffected by the attack.