Tender.fi’s Hacker Returns The Stolen Cash To The Platform For A $97,000 Reward
- The loan platform Tender.fi, which is situated in Arbitrum, reached out to the news after it recorded a 1.59 million dollar hack to negotiate about this matter.
- The reward is around $97,000, which is equal to 6% of the entire amount mined, and it is being provided through an on-chain message.
The hacker who compromised Tender.fi, an Arbitrum-based loan website, has committed to repay the stolen cash as well as receive funds from the platform.
Tender.fi was breached by a hacker wearing a white hat in the afternoon of March 7, and the individual stole $1.59 million. Tender.fi has put an immediate halt to all loan processing while they conduct their investigation. In exchange for a prize of $97,000 in Ether, the hacker who was responsible for mining on the decentralized financial lending site Tender.fi has returned the stolen assets (ETH).
At 10:28 a.m. UTC on March 7, Tender.fi confirmed the event on Twitter immediately after it occurred, noting that there was a “unusual number of loans” and that the initiative has frozen all funds. Consider getting a loan. According to the information included on the blockchain, the miner took advantage of a weakness in the pricing oracle so that he could borrow $1.59 million worth of assets from the system by sending the equivalent of one GMX token, which is currently worth around $71. “It would appear that the configuration of your Oracle was done wrong. In a statement that was made available online, the hacker added, “Please contact me to solve this issue.”
While gaining a lot of traction recently, the Arbitrum DeFi ecosystem has been plagued by security vulnerabilities. Hope Finance, which is next to Tender.fi, has been drained of 2 million USD and DEX ArbiSwap “rug pulling” customers. Eight hours later, the DeFi protocol claimed that it had struck an arrangement with the “White Hat” miner, under which the hacker would refund all debts less the 62.16 ETH “bonus,” which was worth 62.16 ETH at current values.
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