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Squid Router denies $3M Ethereum DeFi hack; issue was a third-party contract, not their protocol.

Market News
25 May 2026
UToday
View Source
Neutral
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Squid Router, a Ripple-backed Ethereum DeFi platform, clarified that it was not involved in a $3 million exploit reported on social media. The hack targeted a third-party smart wallet module with a similar name, allowing attackers to bypass security and steal funds from users who had trusted the vulnerable contract. Squid Router's core protocol and contracts remain secure, and the incident does not affect its operations or user funds. The clarification comes as Squid Router recently raised $6 million to expand its ecosystem, which has processed over $6 billion in volume since 2023.

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