PeckShield Flags $6.19M Crypto Swap, Raises Red Flags for ResupplyFi Exploit

Blockchain security firm PeckShield has issued an urgent alert regarding a massive $6.19 million USDC-to-ETH swap executed on Uniswap V3, sparking concerns of a potential exploit within the decentralized finance (DeFi) ecosystem.

The transaction, detected at 01:53 AM UTC today, involved swapping 6.19 million USDC for 2,421.55 ETH, equivalent to approximately $5.98 million, and has drawn attention due to its scale and complexity.

The transaction, tracked via hash 0xffbbd492e0605a8bb6d490c3cd879e87ff60862b0684160d08fd5711e7a872d3, included 23 ERC-20 token transfers and incurred a $748 gas fee, with 93.5% gas utilization. Internal transfers of ETH to multiple addresses suggest involvement of smart contracts linked to DeFi protocols, notably ResupplyFi, which PeckShield has tagged for immediate review. The firm’s follow-up posts indicate the stolen funds may have been traced, with a reported loss of $9.6 million, raising alarms about a possible security breach.

Analysts speculate this could be an orchestrated exploit, potentially involving flash loans or oracle manipulation, common tactics in DeFi hacks. The involvement of Curve and Morpho contracts further hints at a sophisticated arbitrage or liquidation event. This incident echoes past vulnerabilities, such as the 2016 DAO hack, underscoring the persistent risks in the immutable smart contract space.

The crypto community is on edge, with users on X expressing dismay and calling for transparency from ResupplyFi. “Not a tweet you ever want to see,” one user noted, reflecting the gravity of the situation. As investigations unfold, the event highlights the need for rigorous audits and enhanced security measures in DeFi.

PeckShield’s real-time anomaly detection continues to play a crucial role in safeguarding the blockchain ecosystem. Coincryptonewz will provide updates as more details emerge, urging investors to exercise caution amid this developing story.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.