2 November 2024
Crema Finance Hacker Returns $8 Million Worth Of Stolen Cryptos
Recently, the Solana-based decentralized finance protocol Crema Finance made an announcement that they have managed to reach a deal with the hacker who drained the platform of $8.78 million worth of crypto last week with the help of a flash loan attack.
As a result of the hack, Crema Finance was forced to shut down its liquidity services.
The team offered the hacker a generous $800,000 bounty before contacting law enforcement authorities and launching an investigation. The blockchain project started working with the industry’s leading security firms to monitor the attacker’s funds. The hacker agreed to negotiate for a bigger bounty of 45,455 SOL tokens (roughly $1.7 million at press time). Hacker in exchange returned roughly $7.6 million worth of stolen crypto.
The Crema Finance team claims that a compensation plan will be unveiled within the next two days.
This is not the first time the hacker returned the funds the last august the hacker behind the Poly Network returned roughly $610 million worth of stolen funds after weeks of back and forth.
However, some blockchains projects weren’t so lucky. One of the hacks of Axie Infinity led to a $625 million loss which was hacked by Lazarus Group, a notorious cybercrime collective controlled by the North Korean government.
The recent Harmony attack was also led by North Korean hackers, according to Blockchain sleuth Elliptic.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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