Possible ‘white hat hacker’ exploits THORchain for $8M, proposes 10% bounty
The white-hat hacker claims to have mercifully minimized the damage of their $8 million exploit in a bid to teach THORChain a lesson. Cross-chain decentralized exchange THORChain has suffered its second multi-million-dollar hack in as many weeks, with $8 million worth of Ether impacted.However, the attack appears to have been carried out by a white-hat hacker, with THORChain announcing the perpetrator had requested a 10% bounty. ETH will be halted until the code has been audited.Liquidity providers impacted by the exploit will be subsidized using the project’s treasury fundsThe whitehat....
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DeFi has become a popular attack vector for cybercriminals. After a highly ambitious launch, THORChain suffered two major exploits in July. Cross-chain liquidity protocol THORChain has fully recovered from two summer exploits that compromised millions of dollars in user funds after the company announced Thursday that it had received passing grades in a new security audit. The simultaneous audits, which were carried out by cybersecurity companies Trail and Bits and Halborn, allowed THORChain to implement a five-step recovery plan. THORChain’s contributors now say the protocol is fully....
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.....
The Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty. The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned most of the funds but was allowed to keep $1.6 million as a white hat bounty.The bounty, 45,455 Solana (SOL), is worth a generous 16.7% of the $9.6 million Crema lost initially, which forced the protocol to suspend services. Crema’s team began an investigation to identify the hacker by tracking their Discord handle and tracing the original gas....
The ThorChain network remains halted after the protocol suffered a hack in which the perpetrator is estimated to have made off with $7.6 million in crypto assets. Popular cross-chain decentralized exchange, ThorChain, has suffered a multimillion-dollar breach.Estimates as to the scale of the damage vary, with ThorChain revising the initial estimate that 13,000 ETH (worth $25.1 million) had been stolen down to 4,000 ETH (roughly $7.6 million) as a ballpark for damages. At this stage the estimate is around ~4000 ETH worth of assets (ETH/ERC20) was taken, not 13k ETH. More detailed assessment....
“Poly Network has no intention of holding Mr. White Hat legally responsible," said the team. Decentralized finance protocol Poly Network has offered the person behind a $610 million hack an advisory position and $500,000 — whether they like it or not. In a Tuesday update, the Poly Network team said in a seeming attempt to gain access to hacker’s expertise, it would be inviting them to the position of chief security advisor. In addition, the project will be sending a $500,000 bounty for the attacker, whom Poly dubbed ‘Mr. White Hat,’ despite the fact they have previously refused any....