Gnosis Safe multi-signature wallets can all be emptied in bulk, and the attack surface at the frontend or module level is much larger than expected. The iteration speed of DeFi security infrastructure can never keep up with hackers' automated scripts.

Blockaid states that, in ongoing attacks against the SquidRouterModule on the Ethereum and Base networks, 86 Gnosis Safe wallets were emptied within approximately two hours, with total losses of about $3 million. The stolen funds were exchanged for DAI through Uniswap V3 pools. The incident is still under investigation. Notably, Squid recently completed a $6 million funding round, with investors including North Island Ventures, Ripple, Dialectic, Borderless Capital, Scenius Capital, and others.