CremaFinance sees $8m of hacked money restored

A hacker who made away with almost $10m worth of Solana (SOL) tokens over the weekend has now agreed to return some to the CremaFinance liquidity protocol which was impacted by the attack.

The anonymous hacker said she or he would return $8m of the funds, while keeping the remainder of the money, some $1.6m.

Immediately after the hack, Crema initiated a tracking procedure which involved an analysis of the hacker’s Discord ID and original gas source of the hacker’s address.

Shortly after, the company said that it was already in contact with the hacker and was negotiating. This led to the return of the funds on Wednesday as confirmed by CremaFinance.

The hacker used Ethereum and Solana to conduct the payments. This means that CremaFinance would be able to restore consumer funds should they choose to withdraw.

According to the company, the hacker fudged the numbers to make it look like they were owed a much bigger number of rewards, which tricked CremaFinance into paying the amount.

However, the company assured that it’s assessing the vulnerability and what led to it and will restore normal operation after the analysis is complete and safeguards put in place. This is a rare instance of hacker(s) returning funds to the affected party.

Cryptocurrency scams and hacks have been happening even on major exchanges such as Coinbase, with consumers reporting their funds as gone but the company doing nothing to trace the origin of the issue.

Last year, a hacker who spirited away $600m worth of crypto also agreed to restore some of the amount.

To stay away from hackers, remember to use your cryptocurrencies smartly and at trusted recreational websites such as 1xBit, Bitcasino or FortuneJack.

Source

Updated: 07/07/2022 — 11:00