Dev says $31 million Meerkat Finance exploit was a 'test'; will return funds
DeFi is "flourished by human greed," according to a developer for the exploited project There may be good news on the horizon for the victims of one of DeFi’s largest-ever exploits. At 5:30 AM UTC today, a Meerkat Finance developer identifying themselves as “Jamboo” posted a short message in a newly-created Telegram channel, “Meerkatrefunds.” In it, Jamboo said that the exploit was a “trial” testing users’ greed and “subjectivity,” and that the team was preparing to refund all victims. Jamboo provided proof of their association with Meerkat by sending a small transaction from the Meerkat....
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Users now need to ask: how many more protocols are at risk? At roughly 9 am UTC today Meerkat, a decentralized finance (DeFi) protocol on Binance’s smart contract platform, lost $31 million worth of BNB tokens. While the team initially claimed that they had been the victim of an exploit, they have since deleted all social channels, and due to the nature of the exploit some believe the team liquidated and pilfered user funds — a type of scam colloquially referred to as a “rugpull.” A fork of Ethereum-native yield vault protocol Yearn Finance, Meerkat was just a few hours old when the attack....
Harvest Finance is offering $1 million for information leading to the return of funds from Monday's $24 million exploit.
The individual who exploited the protocol intends to keep a 10% bounty of the stolen funds. Four projects have received some $7 million worth of tokens from the hacker behind the $14.5 million Team Finance exploit on Oct. 27. Over the weekend, the attacker confirmed in a series of messages that they would keep 10% of the stolen fund as a bounty and return the other tokens to the affected projects.The exploiter — a self-described “whitehat” — drained assets from Team Finance through the Uniswap v2-to-v3 migration. As reported by Cointelegraph, liquidity from Uniswap v2 assets on Team....
No user funds have been affected by the exploit, but Inverse Finance has incurred a debt and offered the attacker a bounty to return the stolen funds. Just two months after losing $15.6 million in a price oracle manipulation exploit, Inverse Finance has again been hit with a flashloan exploit that saw the attackers make off with $1.26 million in Tether (USDT) and Wrapped Bitcoin (WBTC).Inverse Finance is an Ethereum based decentralized finance (DeFi) protocol and a flashloan is a type of crypto loan that is usually borrowed and returned within a single transaction. Oracles report outside....
The Harmony team says it will offer $1 million to the hacker who exploited the Horizon Bridge for $100 million, but that may not be enough to get the funds back. The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week. Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on June 23. It added, “Harmony will advocate for no criminal charges when funds are returned.”We commit to a $1M bounty for the return of....