in Cryptocurrencies, Hacks, Transit Swap

Main hacker in Transit Swap exploit agrees to return remaining funds

by Repost Admin October 10, 2022, 4:41 pm 2k Views

Under the agreement, more than $2 million would be returned to Transit Swap users.

On Oct. 10, decentralized finance (DeFi) protocol Transit Swap announced that it had reached an agreement with its biggest hacker for the return of funds. Approximately one week prior, a hacker exploited an internal bug on a swap contract within the protocol and caused other individuals to imitate the security breach, leading to a loss of over $23 million in user funds.

However, the main hacker has since returned approximately 70% of exploited funds thanks to the help of security companies such as Peckshield, SlowMist, Bitrace and TokenPocket. They quickly tracked do