Cross-chain protocol Squid was hacked, resulting in the theft of over $3 million within two hours. On May 25, security firm Blockaid reported that the SquidRouterModule on the Ethereum and Base networks was targeted, leading to the draining of 86 Gnosis Safe wallets. The attacker converted the stolen assets into DAI using a Uniswap V3 pool they controlled. The incident is under investigation. This breach comes shortly after Squid completed a $6 million funding round led by North Island Ventures, with contributions from Ripple, Dialectic, Borderless Capital, Scenius Capital, and angel investors from projects like Axelar and Ledger.