In a recent development that shook the global cryptocurrency market, decentralized exchange platform MonoSwap announced that one of its developers had fallen victim to a phishing scam that masqueraded as a virtual conference application. By unknowingly exposing their computer system to hackers through this fake program, the developer granted remote access to their workstation. This allowed the hackers to infiltrate all wallets and smart contracts associated with MonoSwap. Upon gaining access, the hackers swiftly acted, removing substantial liquidity positions that were staked within the protocol. This not only resulted in significant financial loss but also disrupted the platform's operations. This incident serves as a stark reminder to all participants in the cryptocurrency sector to strengthen their security awareness and guard against various forms of cyber fraud.