1 year ago
The hacker drained a fig of pools connected Curve Finance, stealing astir $70 million, but has gradually started returning funds to assorted projects.
Nonfungible token concern (NFT-Fi) protocol JPEG’d has confirmed that 5,495 Ether (ETH), worthy astir $10 cardinal astatine existent prices, has been returned by the Curve Finance hacker.
In speech for returning the funds that were stolen connected July 30, the hacker received a 610.6 ETH ($1.1 million) bounty.
JPEG’d exploit update:
Seems 5495 ETH was returned conscionable present for a 10% whitehat bounty.
0x003b00378ac52c10200d8fcac0e42138a34e46b9d7c3350ad3372ae0eb141df3
Michael Razum is not the exploiter but was linked on-chain bc a fewer of his contracts were drained by this person. pic.twitter.com/mc3GGx2gyd
JPEG'd is simply a decentralized lending protocol that enables users to get funds against their collateralized NFTs. As portion of the large hack connected Curve Finance, the protocol mislaid $11.6 cardinal worthy of crypto.
In an Aug. 4, X (Twitter) thread, the squad stated that the funds person been returned to the JPEG’d decentralized autonomous enactment multisig wallet address.
“Any further investigations oregon ineligible matters against the entity volition end. We presumption this occurrence arsenic a white-hat rescue,” the JPEG’d squad stated.
The JPEG'd DAO confirms receipt of 5,494.4 WETH backmost to the JPEG'd Multisig for a full of 5,495.4 WETH. A 10% white-hat bounty of 610.6 WETH was awarded to the proprietor of the code that recovered funds from the pETH exploit.https://t.co/nIBwHHxfQU
— JPEG'd (@JPEGd_69) August 4, 2023The decentralized concern (DeFi) ecosystem copped a significant deed successful precocious July, aft respective liquidity pools connected Curve Finance were drained.
The hacker managed to exploit a information vulnerability successful the Vyper astute declaration programming connection that these peculiar pools were coded with, and the full losses were estimated to beryllium astir $70 cardinal worthy of crypto.
The exploit impacted projects specified arsenic decentralized speech Ellipsis, lending level Alchemix, JPEG’d and synthetic protocol Metronome, which each saw millions of dollars worthy of assets stolen from liquidity pools, portion Curve Finance besides mislaid astir $22 cardinal worthy of Curve DAO (CRV) tokens.
Related: CRV vulnerability hazard throws a curveball astatine the DeFi ecosystem: Finance Redefined
On Aug. 3, Curve, Metronome and Alchemix jointly announced an initiative to retrieve the stolen funds, offering the hacker a 10% bounty and nary ineligible enactment if they returned the different 90% of the funds.
In little than 24 hours, the hacker seemingly agreed to the deal, and has gradually started returning the stolen funds to the assorted projects.
Apart from JPEG’d, they person truthful acold returned 4,820.55 Alchemix ETH (alETH), worthy astir $8.8 cardinal to the Alchemix Finance team, and 1 ETH ($1,829) to the Curve Finance team.
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