SwapNet has been compromised by a security vulnerability, resulting in the theft of approximately $16.8 million in cryptocurrency.

According to PeckShieldAlert, Matcha Meta reported a security vulnerability in SwapNet, putting users who opted out of "one-time authorizations" at risk. To date, approximately $16.8 million worth of cryptocurrency has been stolen. On the Base chain, attackers exchanged approximately 10.5 million USDC for approximately 3,655 ETH and began transferring funds across chains to Ethereum. Authorities advise users to immediately revoke authorizations from all individual aggregators outside of the 0x one-time authorization contract.