Transit Swap ‘hacker’ returns 70% of $23M in stolen funds | The Financial Express

Transit Swap ‘hacker’ returns 70% of $23M in stolen funds

According to BscScan and EtherScan, these money came in the form of 3,180 Ether (ETH) valued at $4.2 million

Transit Swap ‘hacker’ returns 70% of $23M in stolen funds
Security companies and project teams from all stakeholders are still tracking the hacking issue

A rapid response from a variety of blockchain security firms aided in the recovery of around 70% of the $23 million exploit of decentralised exchange (DEX) aggregator Transit Swap, as reported by Cointelegraph.

According to Cointelegraph, the funds were lost after a hacker exploited an internal bug on a swap contract on Oct. 1, prompting a quick response from the Transit Finance team as well as security firms Peckshield, SlowMist, Bitrace, and TokenPocket, who were able to quickly work out the hacker’s IP, email address, and associated-on chain addresses.

According to Transit Finance, “through the combined efforts of all stakeholders,” the hacker has returned 70% of the stolen assets to two addresses, totaling around $16.2 million.

According to BscScan and EtherScan, these money came in the form of 3,180 Ether (ETH) valued at $4.2 million, 1,500 Binance-Peg ETH valued at $2 million, and 50,000 BNB valued at $14.2 million.

At the moment, security companies and project teams from all stakeholders are still tracking the hacking issue and communicating with the hacker via email and on-chain techniques. “The team will continue to work tirelessly to retrieve further assets,” it said.

(With insights from Cointelegraph)

Also Read: Celsius founder withdrew $10M before bankruptcy filing: FT

Follow us on TwitterFacebookLinkedIn

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.