Learning from Errors: Addressing Friday’s Incident

Hey there, Symbiotes! On Friday, we issued an important alert regarding on-chain swaps and the need to revoke approvals using revoke.cash

We believe in transparency and accountability, and we want to work together to understand the situation fully.

What happened?

Some time ago, our team began testing a new feature for routing on-chain transactions through meta-aggregation of DEXes and on-chain aggregators. We developed a proxy contract for this purpose, initially testing it on testnets and later on our main networks.

During testing, a private front-end environment was used, separate from app.symbiosis. However, this code branch unintentionally made its way into the application with a subsequent update.

Fortunately, none of our partners using the API/SDK were affected. The fix only affected the web application. No formal contract audit was conducted as this feature wasn’t expected to be rolled out soon.

What have we done to keep you safe?

1. We promptly informed users about the necessity to revoke their approvals within the designated time frame.
2. We adjusted the contract variable (commission) to deter any potential attackers from pursuing further economically feasible attempts.
3. Furthermore, we overhauled the front-end deployment approach to proactively prevent any future incidents of this nature.

So, if, during the period from August 30th, 13:48 UTC, to September 1st, 10:01 UTC, you experienced any loss of funds while doing on-chain swaps with Symbiosis, please do not hesitate to reach out to our dedicated Discord support team. They are available to assist you promptly.

Our commitment to you is unwavering, and we want to assure you that we will reimburse all lost funds within the next week. Your understanding and support mean the world to us, and we are deeply grateful for your trust in our platform.

Thank you for being a part of our community, and please feel free to contact us if you have any further questions or concerns. We are here to assist you every step of the way.