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Project Overview
Squid is the cross-chain swap and liquidity routing protocol on the Axelar Network. It uses existing DEXs to swap and send any native token between chains. Squid's API and SDK support swaps between any token type and enable multiple swaps and on-chain function calls to be linked together across an extensive list of integrated chains, allowing developers and users to explore new ecosystems in an instant.
Cross-chain platform Squid completes $6 million strategic funding round, led by North Island Ventures
According to The Block, cross-chain infrastructure platform Squid has raised $6 million in strategic funding, led by North Island Ventures, with participation from Ripple, Dialectic, and Borderless. The funds will be used to launch a new consumer-facing product. Fig, co-founder of Squid, stated that the product will leverage Squid’s routing and settlement infrastructure to enhance the experience of accessing and managing crypto assets. Squid said that since its launch in 2023, the platform has processed over $6 billion in transaction volume and more than 4 million transactions across more than 100 blockchain networks, serving over 1 million users.
Cross-chain platform Squid completes $6M strategic funding round, with participation from Ripple and others
OdailyOdaily reports that Squid, a cross-chain infrastructure platform, has completed a $6 million strategic funding round led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.It is reported that Squid was initially incubated within the Axelar ecosystem before developing into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with over 4 million cumulative transactions and over 1 million users.Following this funding round, Squid's total cumulative funding has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further streamlining the process for users to access, manage, and use crypto assets across different chains.
SlowMist Yu Xian: The Squid security incident did not stem from private key issues but rather from a vulnerability in the Safe Wallet’s “as shown in the figure” module.
Cosine, founder of SlowMist, posted an analysis of the Squid security incident on X. He stated that sampling revealed all affected Safe wallets were single-signature, with different owners—but the issue was not related to private keys. Rather, the vulnerability lay in the module shown in the image (SquidRouterModule) used by these Safe addresses. Attackers could forge messages and easily bypass relevant validations to initiate subsequent swap operations, thereby draining funds from the targeted Safe wallets. Additionally, Cosine disclosed the attacker’s profit accumulation address. Earlier reports indicated that a third-party Gnosis Safe module was exploited on Base and Ethereum, causing approximately $3.2 million in losses. The victims were 86 Gnosis Safe wallets that had added this contract as a trusted Safe Module. The contract is named “SquidRouterModule” on Basescan. Subsequently, Squid clarified that it was not impacted by the Gnosis Safe-related vulnerability incident.
Saturn: Blacklisted Squid Hacker Address and Froze Stolen Funds
the Saturn Foundation officially posted on X, stating that it has blacklisted addresses related to the Squid hacker incident and frozen the stolen funds. Affected users can submit tickets on Saturn's official Discord server.None of Saturn's contracts or infrastructure were affected by this incident.
Squid: Security Incident Unrelated to Squid Core Protocol and Contracts; All Squid Users and Integrators Unaffected
Odaily news Squid posted on X platform, stating that this incident is unrelated to the Squid core protocol and contracts. All Squid users and integrators are unaffected and no action is required.Today, a third-party Gnosis Safe module on the Base and Ethereum networks was attacked, resulting in a loss of approximately $3.2 million. The vulnerable contract is verified on Basescan under the name "SquidRouterModule," but this contract was not built, deployed, or operated by Squid. It is a third-party smart wallet product that chose to integrate with Squid and other protocols, and has no connection with Squid.The attack principle is that this third-party module accepts a constant string provided by the caller as a message security proof. This string is publicly visible in the verified contract code. By inputting this string, the attacker could execute arbitrary calldata arrays and freely steal funds. The victim's Safe wallet had added this problematic contract as a trusted Safe Module, allowing the contract to control any tokens within the Safe without requiring a signature. Squid's own router contract (0xce16...D666) has a different architecture and was unaffected. Squid users' funds, authorizations, and integrations are completely safe.Early public reports may have mentioned "SquidRouter" due to the contract verification name on Basescan. The accurate description should be: a third-party SquidRouterModule was attacked, not Squid's Router contract. This contract shares the name with Squid, but it is not Squid's code. Squid is continuously monitoring the situation and will provide updates if there are any significant changes.
Squid: Security Incident Unrelated to Squid Core Protocol and Contracts; All Squid Users and Integrators Unaffected
Odaily news Squid posted on X platform, stating that this incident is unrelated to the Squid core protocol and contracts. All Squid users and integrators are unaffected and no action is required.Today, a third-party Gnosis Safe module on the Base and Ethereum networks was attacked, resulting in a loss of approximately $3.2 million. The vulnerable contract is verified on Basescan under the name "SquidRouterModule," but this contract was not built, deployed, or operated by Squid. It is a third-party smart wallet product that chose to integrate with Squid and other protocols, and has no connection with Squid.The attack principle is that this third-party module accepts a constant string provided by the caller as a message security proof. This string is publicly visible in the verified contract code. By inputting this string, the attacker could execute arbitrary calldata arrays and freely steal funds. The victim's Safe wallet had added this problematic contract as a trusted Safe Module, allowing the contract to control any tokens within the Safe without requiring a signature. Squid's own router contract (0xce16...D666) has a different architecture and was unaffected. Squid users' funds, authorizations, and integrations are completely safe.Early public reports may have mentioned "SquidRouter" due to the contract verification name on Basescan. The accurate description should be: a third-party SquidRouterModule was attacked, not Squid's Router contract. This contract shares the name with Squid, but it is not Squid's code. Squid is continuously monitoring the situation and will provide updates if there are any significant changes.
Cross-chain platform Squid completes $6 million strategic funding round, led by North Island Ventures
According to The Block, cross-chain infrastructure platform Squid has raised $6 million in strategic funding, led by North Island Ventures, with participation from Ripple, Dialectic, and Borderless. The funds will be used to launch a new consumer-facing product. Fig, co-founder of Squid, stated that the product will leverage Squid’s routing and settlement infrastructure to enhance the experience of accessing and managing crypto assets. Squid said that since its launch in 2023, the platform has processed over $6 billion in transaction volume and more than 4 million transactions across more than 100 blockchain networks, serving over 1 million users.
Cross-chain platform Squid completes $6M strategic funding round, with participation from Ripple and others
OdailyOdaily reports that Squid, a cross-chain infrastructure platform, has completed a $6 million strategic funding round led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.It is reported that Squid was initially incubated within the Axelar ecosystem before developing into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with over 4 million cumulative transactions and over 1 million users.Following this funding round, Squid's total cumulative funding has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further streamlining the process for users to access, manage, and use crypto assets across different chains.
Related news
SlowMist Yu Xian: The Squid security incident did not stem from private key issues but rather from a vulnerability in the Safe Wallet’s “as shown in the figure” module.
Cosine, founder of SlowMist, posted an analysis of the Squid security incident on X. He stated that sampling revealed all affected Safe wallets were single-signature, with different owners—but the issue was not related to private keys. Rather, the vulnerability lay in the module shown in the image (SquidRouterModule) used by these Safe addresses. Attackers could forge messages and easily bypass relevant validations to initiate subsequent swap operations, thereby draining funds from the targeted Safe wallets. Additionally, Cosine disclosed the attacker’s profit accumulation address. Earlier reports indicated that a third-party Gnosis Safe module was exploited on Base and Ethereum, causing approximately $3.2 million in losses. The victims were 86 Gnosis Safe wallets that had added this contract as a trusted Safe Module. The contract is named “SquidRouterModule” on Basescan. Subsequently, Squid clarified that it was not impacted by the Gnosis Safe-related vulnerability incident.
Saturn: Blacklisted Squid Hacker Address and Froze Stolen Funds
the Saturn Foundation officially posted on X, stating that it has blacklisted addresses related to the Squid hacker incident and frozen the stolen funds. Affected users can submit tickets on Saturn's official Discord server.None of Saturn's contracts or infrastructure were affected by this incident.
Squid: Security Incident Unrelated to Squid Core Protocol and Contracts; All Squid Users and Integrators Unaffected
Odaily news Squid posted on X platform, stating that this incident is unrelated to the Squid core protocol and contracts. All Squid users and integrators are unaffected and no action is required.Today, a third-party Gnosis Safe module on the Base and Ethereum networks was attacked, resulting in a loss of approximately $3.2 million. The vulnerable contract is verified on Basescan under the name "SquidRouterModule," but this contract was not built, deployed, or operated by Squid. It is a third-party smart wallet product that chose to integrate with Squid and other protocols, and has no connection with Squid.The attack principle is that this third-party module accepts a constant string provided by the caller as a message security proof. This string is publicly visible in the verified contract code. By inputting this string, the attacker could execute arbitrary calldata arrays and freely steal funds. The victim's Safe wallet had added this problematic contract as a trusted Safe Module, allowing the contract to control any tokens within the Safe without requiring a signature. Squid's own router contract (0xce16...D666) has a different architecture and was unaffected. Squid users' funds, authorizations, and integrations are completely safe.Early public reports may have mentioned "SquidRouter" due to the contract verification name on Basescan. The accurate description should be: a third-party SquidRouterModule was attacked, not Squid's Router contract. This contract shares the name with Squid, but it is not Squid's code. Squid is continuously monitoring the situation and will provide updates if there are any significant changes.
Cross-chain platform Squid completes $6 million strategic funding round, led by North Island Ventures
According to The Block, cross-chain infrastructure platform Squid has raised $6 million in strategic funding, led by North Island Ventures, with participation from Ripple, Dialectic, and Borderless. The funds will be used to launch a new consumer-facing product. Fig, co-founder of Squid, stated that the product will leverage Squid’s routing and settlement infrastructure to enhance the experience of accessing and managing crypto assets. Squid said that since its launch in 2023, the platform has processed over $6 billion in transaction volume and more than 4 million transactions across more than 100 blockchain networks, serving over 1 million users.
Cross-chain platform Squid completes $6M strategic funding round, with participation from Ripple and others
OdailyOdaily reports that Squid, a cross-chain infrastructure platform, has completed a $6 million strategic funding round led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.It is reported that Squid was initially incubated within the Axelar ecosystem before developing into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with over 4 million cumulative transactions and over 1 million users.Following this funding round, Squid's total cumulative funding has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further streamlining the process for users to access, manage, and use crypto assets across different chains.