Chainswap – Redeploying of the Smart Contract
A recent Chainswap breach has had a major effect on many projects that have collaborated with the platform to swap tokens between Ethereum and Binance Smart Chain. The hackers stole crypto-assets worth more than $8,000,000 by exploiting a possible flaw in the platform’s smart contract protocol. Chainswap has had its second security compromise in less than a month.
Here is a summary of developments that we are aware of, as well as our plan of action to preserve the trustworthiness of investors and partnered exchanges.
How the Hack Occurred?
On Saturday (July 11, 2021), hackers exploited a flaw in the exchange’s smart contract code to steal tokens from over a dozen projects, including UniFarm, OroPocket, Umbrella Network, Dafi, Razor, Antimatter, and many more.
According to Chainswap, only the projects’ smart contracts were impacted, not the wallets that interacted with the platform. The platform has also claimed that money from individual wallets are entirely secure, and that individuals affected by the hack are those who have crypto assets held in wallets on the targeted exchanges.
Our Action Plan
While the effect of the hack on UniFarm ($UFARM) and Oropocket ($ORO) tokens was minor, we work hard to maintain the community’s trust in us. Here’s how we intend to act in light of the recent developments:
Nothing changes at Unifarm as we proceed with the staking as planned.
We were unaffected by the opportunistic and unethical act.
Except for a few:
18006434.862154000000012288 UFARM coins
Our contracts and tokens are unaffected and remain safe.
We burned the hacked $ORO tokens in the hackers’ wallet to keep our pledge of trustworthiness and steadfastness.The following is a link to the transaction hash:
Furthermore, the $UFARM tokens on the Ethereum chain were locked, preventing them from being sold.
The transaction hash can be seen at:
To clinch the deal on trustworthiness, we will re-deploy the contract and issue fresh tokens via a more organised procedure with a 48-hour turnaround time.
The Ethereum token address for ORO and UFARM stays the same.
On BSC, however, we have redeployed the tokens.
Liquidity for the ORO/ETH pair has been introduced on Uniswap v3:
Liquidity for ORO/ETH pair has been added to Uniswap v3:
To improve the security of crypto-assets and tokens, we have been working on our assets bridge, which will be thoroughly tested and audited to guarantee a safe experience. We will no longer be reliant on Chainswap for token exchanging once the bridge is operational.
In addition, we would contact the worst-affected projects, such as Umbrella, Razor, Dafi, Nord, Black, and Acer, to learn about their damage-control methods and plan our next steps. Fortunately, our project was the least impacted of all in this attack, thanks to the rigorous vigilance and blockchain technology used to prevent fraud. We are dedicated and will continue to work for the advancement of our community.
Team UniFarm and OroPocket