Cosine from SlowMist: The Squid security incident was not caused by a private key issue, but by a vulnerability in the Safe wallet module.
According to ChainCatcher, SlowMist founder Cosine posted on X to explain the Squid security incident. He said that upon sampling, the relevant Safe wallets were all single-signature, with different owners. However, the issue was not with the private keys. The problem lay in the modules (SquidRouterModule) used by these Safe addresses, which contained vulnerabilities. Attackers could forge messages and easily bypass related verifications to initiate subsequent swap operations, transferring funds out of the target Safe wallets. Additionally, Cosine also disclosed the address where the attacker's profits were deposited.
Previously, it was reported that a third-party Gnosis Safe module was exploited on Base and Ethereum, resulting in approximately $3.2 million in losses. The victims were 86 Gnosis Safes that had added this contract as a trusted Safe Module. On Basescan, the contract is named "SquidRouterModule." Subsequently, Squid clarified that it was not affected by the Gnosis Safe-related vulnerability incident.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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