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DeFi

Transit Swap Hacker Retains 2,500 BNB As Bonus After Returning 10,000 BNB

October 10, 2022 - Around 2 mins mins to read
The primary hacker behind the Transit Swap assault has returned another $2.75 million in stolen cash while collecting a sizable reward. The hacker transmitted $686,000 in BNB tokens to the authorized Tornado Cash protocol.
Transit Swap Hacker Retains 2,500 BNB As Bonus After Returning 10,000 BNB

On-chain data suggest that a hacker who defrauded cross-bridge decentralized finance (DeFi) network Transit Swap out of $28.9 million moved 2,500 BNB tokens ($686,000) to sanctioned privacy protocol Tornado Cash.

According to a blog post by Transit Swap, the hacker allegedly committed to repaying 10,000 BNB ($2.74 million) to victims of the attack.

This is in addition to the $18.9 million returned last week after security firms assisted in tracking down the hacker’s IP address.

According to PeckShield, the hacker has already refunded 6,500 of the 10,000 BNB tokens. Another 3,500 BNB will then be sent back once Transit kicks off the second phase of refunds.

The Transit Swap breach is one of numerous that have afflicted DeFi, an umbrella term for lending, trade, and other financial transactions conducted on a blockchain without the need for traditional middlemen, since its inception in 2022.

Wintermute, a crypto market maker, had $160 million stolen from its DeFi firm last month, following a $570,000 hack of Curve Finance in August.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

BNB

Curve Finance

hack

Tornado cash

Transit Swap

Wintermute

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

Transit Swap Hacker Retains 2,500 BNB As Bonus After Returning 10,000 BNB

The primary hacker behind the Transit Swap assault has returned another $2.75 million in stolen cash while collecting a sizable reward. The hacker transmitted $686,000 in BNB tokens to the authorized Tornado Cash protocol.
Transit Swap Hacker Retains 2,500 BNB As Bonus After Returning 10,000 BNB

On-chain data suggest that a hacker who defrauded cross-bridge decentralized finance (DeFi) network Transit Swap out of $28.9 million moved 2,500 BNB tokens ($686,000) to sanctioned privacy protocol Tornado Cash.

According to a blog post by Transit Swap, the hacker allegedly committed to repaying 10,000 BNB ($2.74 million) to victims of the attack.

This is in addition to the $18.9 million returned last week after security firms assisted in tracking down the hacker’s IP address.

According to PeckShield, the hacker has already refunded 6,500 of the 10,000 BNB tokens. Another 3,500 BNB will then be sent back once Transit kicks off the second phase of refunds.

The Transit Swap breach is one of numerous that have afflicted DeFi, an umbrella term for lending, trade, and other financial transactions conducted on a blockchain without the need for traditional middlemen, since its inception in 2022.

Wintermute, a crypto market maker, had $160 million stolen from its DeFi firm last month, following a $570,000 hack of Curve Finance in August.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News