After the July 2, 2022 hack, the team at Crema Finance, a decentralized finance (defi) protocol, returned approximately $8 million in crypto assets after some negotiations The team detailed that the hackers returned approximately $8 million in crypto assets. According to the team, the hacker agreed to take a white hat bounty worth 45,455 solanas.
The hacker returns $8 million in crypto to Crema Finance
On July 2, 2022, defi project Crema Finance had approximately $8.7 million in crypto assets misused. According to blockchain auditing firm Ottersecthe flash loan attack was used to siphon off $8,782,446 worth of digital currency.
Crema Financetemporarily shut down the programand began investigating the exploit; on July 5, Crema Finance announced that the investigation was “making significant progress.”
“By tracing the original gas source of the hacker’s address, we have targeted suspicious identities that may be related to the hacking incident. After further verification, a new update will be shared,” Krema Finance said on Tuesday. Additionally, the defi project team detailed that they received an on-chain reply from a suspicious hacker, Crema Finance noted:
we have confirmed its authenticity and have begun the negotiation process.
The majority of the $2 billion in crypto stolen in 2022 came from the Defi Exploit
. After negotiations, it appears that a bounty reward of 45,455Solana (SOL)The hacker returned two large sums of money, ETHand SOL.
“After lengthy negotiations, the hacker agreed to receive 45,455 SOL as a white hat bounty,” Crema Finance explained. Now we have confirmed receipt of 6,064 ETH, ETH+ 23,967.9 SOL… in 4 transactions. Follow-up compensation plan will be released within 48h.”
The decentralized financial (defi) protocol has been the victim of numerous hacks in 2022. In the first quarter alone, $1.3 billion in crypto funds were stolen from people, exchanges, or defi protocols; 97% of the $1.3 billion was attributed to defi exploits, and $670 million was stolen from defi exploits in the second quarter.
According to areportwritten by Immunefi, the majority of crypto stolen from defi exploits in Q2 2022 came from four different projects. Those four projects are Beanstalk, Harmony Horizon Bridge, Mirror Protocol, and Fei Protocol.
Shortly before announcing its successful communication with the hackers, Crema Finance detailed that it had submitted a new codebase to the blockchain security firmfor audit. Slowmist.” Crema’s protocols will be live again after the new audit is completed.” Crema Finance teamsaid
Occasionally, there are defi projects that are lucky enough to negotiate with the attacker and the hacker decides to return some or all of the stolen funds. There are many attempts to talk to the hacker and offer a reward, but the vast majority of defi projects are unable to make contact with the attacker and end up eating their losses.
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