Team Finance hacker returned $7 million in embezzled funds

The culprit behind the $14.5 million exploit made on the DeFi Team Finance platform started to redeem it, suggesting that this was a white hat attack.

Team Finance projects receive 90% of their money

According to the blockchain security company SlowMistSo far, the projects affected by the hack have received $7 million from the hacker. Include projects that have been confirmed to receive payment Tsuka (765000 DZD), condox (209 ETH), CAW $ (5,073,000 dai) and coward (548 ETH).

The hacker identifies himself as an expert, i.e. a hacker who identifies weaknesses in a program and does not have malicious intent. However, the hacker will keep 10% of the funds used as hacking drops.

According to Team Finance’s Official WebsiteAll services have been restored and are working properly.

“All user funds are safe and unaffected,” the site says.

More about hacking

Finance team was raised the alarm About the hack on their platform on October 27, which resulted in a loss of $14.5 million. The exploit occurred during the platform migration from Uniswap v2 to v3. Interestingly, the smart contract included in the hack was previously checked.

The protocol, which contains $3 billion secured across 12 blockchains, immediately suspended all activity on the platform and urged the hacker to call in to discuss the bug bounty.

Ethereum Input Data (IDM) messages received from Etherscan Show the status of users affected by this exploit. Incapacitated users have gone to the hacker’s chat box to request a refund. The hacker responded by explaining that he is a white hat and plans to return the majority of the looted funds.

info from Davy Lama open The total value of Closed Team Finance (TVL) fell by as much as 14% in the hours following the hack, from $147 million to $126.9 million. That number has since risen to $135.25 million.

Even as the month ends, bad actors in the space continue to exploit crypto projects, cementing October’s name as Hacktober.

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