Crema Finance Hacker Accepts Bounty And Returns Over $7m Of Stolen Funds

The Solana-based concentrated liquidity protocol, Crema Finance, suffered an exploit earlier this week. The drained crypto funds have been price almost $9 million on the time of the hack. Nevertheless, following an extended negotiation, the hacker has agreed to take 45,455 SOL because the white hat bounty and return the stolen funds.

“After an extended negotiation, the hacker agreed to take 45,455 SOL because the white hat bounty. Now now we have confirmed the receipt of 6064 ETH + 23,967.9 SOL in 4 transactions. A follow-up compensation plan will probably be launched in 48h.”

Change of Coronary heart

Crema Finance confirmed the receipt of 6,064 ETH and 23,967.9 SOL into the protocol’s Solana and Ethereum wallets in 4 transactions. The returned funds amounted to $7.6 million on the present worth. The staff earlier mentioned that it could contain police and authorized authorities ought to the perpetrator refuse its bounty reward of $800,000. The hacker then responded by saying,

“Crema staff, since you are attempting to succeed in me to barter, let’s chat”

The attacker, nevertheless, swooped in with negotiation of a a lot greater bounty of round $1.7 million. The most recent growth means Crema Finance wouldn’t be taking authorized motion towards them. The liquidity protocol will launch a follow-up compensation plan within the subsequent 48 hours.

DeFi heists have develop into a standard affair, but it surely’s not all the time that tales of a twist within the story emerge the place the perpetrator doesn’t run off with the haul. In an identical weird incident, Poly Community’s attacker returned almost the entire cash. A yr in the past, the hacker behind the most important cryptocurrency heist of all time granted the DeFi platform entry to the ultimate tranche of stolen funds.

Crypto Losses

Q2 introduced in vital losses for crypto, some 97% of which have been the results of hacks, in accordance with Immunefi’s newest report. Throughout the second quarter, the platform detected $670,698,280 price of losses, a rise of 52% from $440,021,559 in the identical interval for 2021.

The hacks in Beanstalk, Concord Horizon Bridge, Mirror Protocol, and Mei accounted for almost all of those funds. The report additionally mentioned that blackhat hackers are actually primarily concentrating on and exploiting DeFi as 49 out of fifty cases concerned DeFi protocols.

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