Jimbos Protocol to Work With U.S. Homeland Security to Help Recover $7.5M From Flash Loan Exploit

Developers of Jimbos Protocol, an Arbitrum-based application, said Wednesday they opened up a lawsuit with the New York subdivision of the Department of Homeland Security to apprehension the attacker who exploited the protocol for millions of dollars this past weekend.

“We warned you. We’d similar giving you the bounty truthful we tin absorption connected our protocol. Instead, we volition woody with instrumentality enforcement to find you,” the Jimbos squad wrote to the attacker connected Twitter, aft giving them respective days to instrumentality 90% of the stolen funds. “The doorway remains unfastened for the hacker to instrumentality the funds until they are arrested, astatine which constituent the connection volition beryllium rescinded.”

The caller determination to enactment with the Department of Homeland Security comes 3 days aft Jimbos faced a $7.5 cardinal flash indebtedness exploit and astir 2 weeks aft the protocol’s authoritative motorboat date.

In summation to collaborating with instrumentality enforcement successful the United States, the squad is presently opening much cases successful different jurisdictions and is offering a 10% bounty worthy astir $800,000 to the wide nationalist for anyone who provides accusation that leads to catching the exploiter and funds being returned.

“We person a bully thought who it is,” said blockchain sleuth Ogle, who is portion of the betterment process and has helped with the Euler Finance exploit. “I deliberation they extremity up speaking, keeping their 10%, and returning the remainder — it’s a triumph for everybody and makes the astir sense. Only an idiot would effort to support the rest, but hazard situation for years and losing each of the money.”