Main hacker in Transit Swap exploit agrees to return remaining funds
Under the agreement, more than $2 million would be returned to Transit Swap users. On Oct. 10, decentralized finance (DeFi) protocol Transit Swap announced that it had reached an agreement with its biggest hacker for the return of funds. Approximately one week prior, a hacker exploited an internal bug on a swap contract within the protocol and caused other individuals to imitate the security breach, leading to a loss of over $23 million in user funds. However, the main hacker has since returned approximately 70% of exploited funds thanks to the help of security companies such as....
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The funds returned so far has come in the form of Ether (ETH), Binance-pegged ETH and BNB ($14.2 million). A quick response from a number of blockchain security companies has helped facilitate the return of around 70% of the $23 million exploit of decentralized exchange (DEX) aggregator Transit Swap.The DEX aggregator lost the funds after a hacker exploited an internal bug on a swap contract on Oct. 1, leading to a quick response from Transit Finance team along with security companies Peckshield, SlowMist, Bitrace and TokenPocket, who were able to quickly work out the hacker’s IP, email....
“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to the users while efforts to track down and recover the stolen funds are underway.“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Blockchain....
On Sunday, the multichain decentralized exchange aggregator Transit Swap suffered an exploit resulting in $23 million losses. But fortunately, the project’s team managed to recover 70% of the stolen funds on the same day with the help of several blockchain security firms, which facilitated the platform immediately after the incident. The blockchain security firms which […]
Majority of the DeFi tokens in Top-100 traded in red barring a few, thanks to the weekend rout in the market correction towards the end of the week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.The TranitSwap hacker that got away with $23 million has returned 70% of the stolen funds. The return was possible due to quick actions from on-chain data analytic firms who managed to find the hacker’s IP address and other personal details.Another research report from....
The Poly Network hacker said they will return the stolen cryptocurrency funds, and have asked for a secured multisig wallet. Following a massive $600 million exploit of cross-chain protocol Poly Network, the Poly Network hacker has claimed his willingness to return the stolen cryptocurrency funds.At about 4:00 UTC on Wednesday, the hacker sent an Ethereum transaction to themselves, stating that they were “ready to return the fund” in an embedded transaction message.Source: EtherscanIn a subsequent message, the hacker asked for a multisig wallet address to return the funds to Poly Network.....