Socket recently issued a formal statement regarding a security breach it encountered, resulting in a $3.3 million attack on the protocol. In a tweet, Socket assured users that they had identified the issue and promptly halted the affected contracts, requiring no further action from users.

The attack impacted 231 wallets, with an average loss of $14,000 each. Among the stolen assets were prominent cryptocurrencies such as Ethereum, Dai, Wrapped Ether, Polygon, and Wrapped Bitcoin.

PeckShield initially reported the incident to Socket, noting that the exploited route used in the attack had been added just three days prior and was promptly disabled. PeckShield determined that the attack exploited incomplete validation of user input, allowing funds to be withdrawn from accounts that had approved a vulnerable SocketGateway contract.

A specific account was identified as the source of the attack, exploiting the mainnet while users were advised to revoke every address for security purposes.

Socket serves as an interoperability protocol facilitating seamless connectivity across blockchains and supports Bungee, a bridge aggregator enabling users to discover optimal bridging routes. Bungee utilizes Socket to identify multiple routes through supported bridges and decentralized exchanges, considering all necessary swaps before and after the bridging process.

While there is no update on the recovery of the funds from the recent attack, Socket continues to address the issue.