Li.Fi Safely Deactivates Smart Contract Following 'Exploit'

IconCryptoNewsTerminal Staff16 Jul, 2024

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Li.Fi Safely Deactivates Smart Contract Following 'Exploit'

Li.Fi, the leading multichain liquidity and data gateway project, has proactively deactivated a smart contract suspected to have been affected by an "exploit." This move ensures the security and integrity of its platform and user funds. Upon discovering potential vulnerabilities, Li.Fi promptly initiated an investigation and took swift action to safeguard its users. The affected smart contract, which was isolated from the rest of the system, has been deactivated until a comprehensive security audit can be conducted. Li.Fi's commitment to transparency and user protection is evident in its prompt communication and decisive actions. The team will continue to monitor the situation closely and provide updates as necessary. Users are advised to exercise caution and stay informed through official Li.Fi channels.

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