The decentralized exchange protocol CoW Swap has been a victim of a recent hack attack, losing around 551 BNB tokens as a hacker moved the crypto holdings worth over $180,000 to other addresses. This was reported by security company PeckShield, which also noted that the funds were moved to the crypto mixer Tornado Cash in the process.

According to smart contract auditor BlockSec, a multisig added a wallet address as a "solver" of CoW Swap. After that, the address triggered the transaction to give SwapGuard DAI approval, which caused SwapGuard to distribute DAI to other addresses under the CoW Swap settlement contract.

Some members of the CoW Swap community urged users to revoke approvals from the decentralized exchange, but CoW Swap said that it will not be necessary. The protocol shared that it is aware of the issue at hand, its traders will not be negatively affected and that they are currently conducting an investigation.

Sources:

https://cointelegraph.com/news/cow-swap-hacker-milks-over-550-bnb-using-solver-exploit

https://www.newsbtc.com/crypto/breaking-cowswap-loses-150000-in-an-exploit/