On July 24, 2024, Monoswap, a staking platform, announced that it suffered a malicious hack and warned users not to stake or add additional funds at the moment.

In the announcement, Monoswap also warned users to withdraw their funds from the platform immediately to avoid losses and not to interact with a malicious link, which the protocol identified in a social media post.

BREAKING: Monoswap has been hacked, warning issued to stay away image 0 Source: MonoSwap

According to Monoswap, on July 23, 2024, one of its developers accidentally installed a malicious phishing application and was lured into a call with scammers pretending to be venture capitalists. At some point during the call, malicious software was installed by the malicious actors onto the developer's computer, which reportedly had access to all the platform's wallets and contracts. This allowed the hackers to withdraw most of the staked liquidity on the platform.

At the time of this writing, Monoswap is investigating and said it is "trying to work with venture capitalists to build a better future for Monoswap."

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