1inch Says TrustedVolumes Incident Did Not Affect Its Systems or User Funds

According to 1inch’s May 7 statement, TrustedVolumes operates independently as a liquidity provider serving multiple protocols, and the incident did not affect 1inch’s systems, infrastructure, or user funds.

1INCH

Summary

1inch said in an official statement on May 7 that the TrustedVolumes attack did not affect its systems, infrastructure, or user funds. The company stated that TrustedVolumes is an independent liquidity provider used by multiple protocols and is not an exclusive partner of 1inch. The statement clarifies that the incident did not impact 1inch’s own operations or customer assets.

Terms & Concepts
  • Liquidity provider: A firm or participant that supplies assets to trading venues so users can buy or sell with lower friction and better execution.
  • Protocol: A blockchain-based set of rules or software system that governs how a crypto application operates and interacts with users or other services.