- The unfortunately-timed hack led to a loss of 1,800 ETH.
- The exploit comes a day after the DeFi platform broke its silence about an SEC subpoena.
- Despite a post from Head Chef Jared Grey, there are still more questions than answers about the SEC’s action toward SushiSwap.
Whenever the Securities and Exchange Commission (SEC) is mentioned alongside a crypto company, there is cause for concern given the U.S. approach to regulation by enforcement.
On March 21, it was revealed that Sushi DAO Head Chef Jared Grey was served with a subpoena from the SEC, which Grey addressed and explained on April 8. However, a day after the explanation, a bug on the DeFi platform led to over $3 million in losses.
Unusual Activities
The hack on SushiSwap was identified by Blockchain security companies CertiK Alert and Peckshield. Taking to Twitter, it was noted that there was some unusual activity related to the approval…
