How the WingRiders team saved MinSwap from being hacked

In mid-September 2021there was an Alonzo hard fork. In March 2022, the first major hack on the decentralized exchange MinSwap could have occurred, but thanks to the vigilance and professionalism of the WingRiders team, it did not.

What happened

MinSwap is a decentralized AMM exchange running on Cardano. On January 21, 2021, the team announced that smart contracts will undergo a security audit by Tweag. Tweag is a software innovation lab specialized in Haskell development for fintech applications and platforms. The auditors found a total of 13 bugs, including 3 with severity Critical and two with severity High.

The MinSwap team released an article on Medium on February 21, 2022, stating that the audit is complete and all bugs have been addressed. Subsequently, the exchange was launched on the Cardano main-net on 9 March. In a relatively short time, Total Value Locked (TVL) reached almost $200M.

On March 19, the team announced that both smart contracts and the audit report are open-sourced available on GitHub. All interested parties could take a look at the source code of the smart contracts and the…