According to BlockBeats, on July 25, MonoSwap reported on social media that a developer had installed a phishing application the previous day. The developer was attempting to join a call with scammers posing as venture capitalists. The attackers managed to install a botnet on the developer's office PC, which had access to all wallets and contracts related to MonoSwap. Consequently, the hackers withdrew a significant portion of staked liquidity positions, causing damage to the protocol.