The liquidity provider TrustedVolumes, linked to 1inch, lost nearly $6 million in a hack targeting its Ethereum router contract.
TrustedVolumes, a liquidity provider associated with 1inch, has suffered a significant hack resulting in losses close to $6 million. Blockaid reports that the attack targeted the project's router contract on the Ethereum blockchain.
The stolen assets comprised various cryptocurrencies, including:
- 1,291 WETH
- 206,282 USDT
- 16,939 WBTC
- 1.2 million USDC
Experts note that the exploit appears to originate from the same address responsible for a previous hack targeting a 1inch smart contract in March 2025, which resulted in losses of $5 million. This recent breach involved a flaw in a custom proxy contract designed for order swaps managed by TrustedVolumes.
The project team acknowledged the breach and disclosed the hacker's wallet addresses on social media, indicating that around $3 million could be traced to each of two wallets linked to the assailant.
“We are open to constructive dialogue regarding bug bounties and mutually acceptable solutions,” the developers expressed.
Ongoing Challenges in DeFi
This incident marks the fifth hack reported since May began, highlighting ongoing vulnerabilities in decentralized finance (DeFi). Other recent hacking victims include Bisq, Sharwa.Finance, SmartCredit, and Ekubo. April was particularly grim for the sector, witnessing a record 20 attacks that resulted in a total theft of $635 million, the highest amount since a February incident involving Bybit that lost nearly $1.5 billion.
Experts like Andrew Moss from Jefferies Bank have warned that these continuous security breaches could impact Wall Street's enthusiasm for blockchain technologies. However, Ethereum co-founder Joseph Lubin suggests that these attacks are part of a necessary, albeit painful, process to strengthen the financial infrastructure by exposing its vulnerabilities.
