Sentiment recovers $870K after negotiations with the hacker

Lending protocol Sentiment has managed to retrieve the stolen funds from the caller hack by offering the hacker a bounty worthy $95,000.

In an on-chain transaction connected the Arbitrum blockchain, Sentiment sent a connection to the hacker offering $95,000 if the hacker returned the funds by April 6, urging the hacker to "do the close thing." If the hacker did not instrumentality the funds, the protocol besides offered the wealth to anyone who could assistance find and prosecute the culprit.

On-chain connection from Sentiment to the hacker. Source: Arbiscan

Metamask developer Taylor Monahan tracked the advancement and highlighted that the hacker has returned 414 Ether (ETH), worthy astir $771,000, successful an archetypal transaction. Eventually, the hacker returned different 51.75 ETH to the Sentiment betterment address. After the transaction, the lending protocol confirmed that they received the funds.

The hack was performed connected April 4. Some on-chain sleuths suggested that the onslaught whitethorn person been a reentry onslaught portion others said that the attacker relied connected a bug. Initial estimates of the mislaid funds were astir $500,000, but aft a while, members of the assemblage confirmed that the losses were person to $1 million. 

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Meanwhile, a assemblage subordinate concluded that the full fiasco is simply a effect of companies not taking bug bounties earnestly and praised the efforts of the hacker for “taking it by force.” On the different hand, different Twitter idiosyncratic described the incidental arsenic conscionable “a bug bounty with a transgression step” and urged companies to connection larger and much transparent bug bounties.

Hackers are redefining bounty programs. Why instrumentality smol bounty erstwhile large bounty better.

— ru (@ru_defi) April 6, 2023

The incidental draws immoderate similarities to the caller Euler Finance hack. On April 4, the Ethereum protocol managed to person a hacker to return astir 90% of the stolen funds aft offering a bounty. The hacker returned astir $176.4 cardinal successful integer assets portion keeping astir $20 million. 

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