On October 10, the Transit Swap Decentralized Finance (DeFi) protocol announced that it had reached an agreement with the largest hacker to return the funds. About a week ago, a hacker exploited an internal flaw in an exchange contract within the protocol and caused other people to imitate the breach of security, resulting in the loss of more than $23 million in users’ funds.

However, the major hacker has since returned nearly 70% of the custodial funds thanks to the help of security companies such as Peckshield, SlowMist, Bitrace, and TokenPocket. They quickly tracked down the hacker by identifying the IP address, email address, and associated string addresses.

According to the October 10 agreement, the hacker will return the remaining 10,000 BNB
Gross domestic product

The tokens, valued at approximately $2.74 million, were released from exploitation in exchange for an exemption from all legal obligations arising from the attack by Transit Swap. In addition, the hacker will keep 2,500 BNB ($685,600) for “white hat” efforts to expose the vulnerability.

The Transit Swap team has also set an October 12 deadline for two hacker impersonators and a hacker arbitrator to return the stolen funds. After that, the developers threatened that “legal action” would be taken.

Related: The White Hat Discovers a Major Vulnerability in the Ethereum-Arbitrum Bridge: Wen max bounty?

At the start of the year, DeFi exploits were largely a low-risk, high-reward endeavor thanks to user anonymity. Recently, the rise of blockchain analytics and criminal DeFi companies, along with the US ban on crypto-mining tools like Tornado Cash, has made it more difficult for hackers to launder stolen money. Instead, some have chosen to return the money and keep a portion of the profits used as a “reward” for exposing security vulnerabilities, as is the case with the Nomad Bridge hack.

Source: CoinTelegraph

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