The hacker behind the exploit of the decentralized finance lending platform Tender.fi has returned the stolen funds for a $97,000 bounty reward in Ether (ETH).
The exploit was executed at 10:28 am UTC on March 7, with Tender.fi confirming the incident on Twitter quickly after, citing “an uncommon quantity of borrows” and including it has paused all borrowing.
Blockchain knowledge confirmed the exploiter used a worth oracle glitch to borrow $1.59 million value of belongings from the protocol by depositing 1 GMX token, valued at round $71.
“It seems like your oracle was misconfigured. contact me to type this out,” the hacker wrote in an on-chain message.
Eight hours later, the DeFi protocol introduced it had come to an settlement with the “White Hat” exploiter, by which the hacker would repay all loans minus a 62.16 ETH “bounty,” value round $97,000 at present costs.
Translation: The White Hat will repay all loans minus 62.158670296 ETH, which will probably be stored as a Bounty for serving to safe the protocol. The https://t.co/H4ZMPLH9pz Staff will repay the Bounty s worth to the protocol, in order that there will probably be no dangerous debt and customers will stay… https://t.co/5bbmKu7zEe
— Tender.fi (@tender_fi) March 7, 2023
One other hour later, Tender.fi confirmed on Twitter that the exploiter had accomplished the mortgage repayments.
“Funds are formally SaFu, publish mortem on the best way,” it wrote.
Associated: DeFi lender Tender.fi suffers exploit, white hat hacker suspected
Final yr in August, cross-chain Nomad Bridge appealed to exploiters that participated in a wise contract exploit that extracted $190 million in funds from the bridge in lower than three hours.
Mere hours later, roughly $32.6 million value of funds had been already returned, suggesting a number of the exploiters might have been white hat hackers making an attempt to extract funds for a later protected return.
Later within the month, nonfungible token agency Metagame even supplied a “Whitehat Prize” within the type of an NFT for anybody who proved that they had returned no less than 90% of the funds they stole from the protocol.
1/ Our associates at @metagame created an earned NFT as a thanks to whitehats who returned funds from the Nomad Bridge Hack. Head over https://t.co/TWwuJwnRXj to assert it! pic.twitter.com/V87rkGhBEE
— Nomad (⤭⛓) (@nomadxyz_) August 23, 2022
Blockchain knowledge from the Official Nomad Funds Restoration Handle reveals that funds continued to be returned to the restoration deal with since then, with the most recent transaction recorded on Feb. 18 for $7,868 in Covalent Question Token (CQT).
