Matcha Meta has confirmed that SwapNet suffered a major security vulnerability, which has so far caused approximately $16.8 million in losses.

According to a report by PeckShieldAlert on January TechFlow, Matcha Meta confirmed that SwapNet suffered a major security vulnerability, resulting in the theft of approximately $16.8 million in crypto assets. This attack primarily affected users who had disabled the "one-time authorization" feature. Security monitoring shows that attackers have exchanged approximately 10.5 million USDC for 3655 ETH on the Base network and have begun transferring funds to the Ethereum mainnet. The SwapNet team has immediately suspended the relevant contracts and launched an investigation. Security expert PeckShieldAlert advises users to immediately revoke authorizations for all individual aggregators outside of the 0x one-time approval contract to prevent further losses.