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May 25, 2026

Gnosis Safe Users Lose $3.2 Million in SquidRouterModule Exploit Across Base and Ethereum

Attackers exploited a vulnerable third-party SquidRouterModule contract to drain approximately $3.2 million from 86 Gnosis Safe wallets on Base and Ethereum networks in under two hours. The exploit targeted a third-party module rather than the core Safe protocol.

May 25, 2026·2 sources
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Top claims

  • ▪The SquidRouterModule security string was clearly visible in the publicly available source code, making it possible to bypass all security measures.
  • ▪The legitimate Squid Router contract at address 0xce16F69375520ab01377ce7B88f5BA8C48F8D666 uses a completely different architecture and has not been affected by the SquidRouterModule attack.
  • ▪Blockaid reported that all tokens from the 86 exploited Gnosis Safes were exchanged using liquidity pools controlled by the attacker.

Topics

Smart contractsLayer 2sEthereumDeFi

Related entities

Ethereum

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