🚨 Hacking of the Li.Fi protocol for $11.6 million: what happened?

- The Li.Fi protocol was attacked due to a vulnerability in the new smart contract.

- An error in the code allowed attackers to bypass address verification.

- 156 wallets on the Ethereum and Arbitrum networks were affected.

- The Li.Fi team fixed the vulnerability and contacted law enforcement agencies.

- Hacks continue to negatively impact the crypto industry in 2024.