SlowMist Yuánzī: Squid security incident issue is not with the private key, but a vulnerability exists in the Safe wallet's module as shown in the diagram.

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Deep Tide TechFlow News, May 26 — Yu Xian, founder of Slow Fog, posted on the X platform analyzing the Squid security incident. He stated that sampling revealed that the related Safe wallets are all single-signature, and the owners are different, but the issue is not with the private keys. The problem lies in the modules used by these Safe addresses (SquidRouterModule), which have vulnerabilities. Attackers can forge messages, easily bypass related verifications, initiate subsequent exchange operations, and transfer funds from the target Safe wallets. Additionally, Yu Xian also published the address information where the attacker’s profits have accumulated.

Earlier reports indicated that a third-party Gnosis Safe module was exploited on Base and Ethereum, resulting in approximately $3.2 million in losses. The victims were 86 Gnosis Safes that had added this contract as a trusted Safe Module. The contract on Basescan is named “SquidRouterModule,” and Squid later clarified that it was not affected by the Gnosis Safe-related vulnerability incident.

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