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Cryptoknowmics 2022-07-07 10:40:44

Crema Hacker Agrees to Return $8M But Keep $1.6M of Stolen Funds

Solana-based DeFi protocol Crema Finance reaches a deal with the hacker who drained the platform of nearly $9 million worth of crypto last week. Under the deal, the hacker gets to keep $1.6 million of the stolen funds and return $8 million of the stolen funds. Crema Finance Reaches Deal With Hacker In a tweet update posted on July 7, Crema Finance stated that the attacker of its recent hack has agreed to take 45455 SOL as the white hat bounty, worth $1.7 million, at the time of writing. In exchange, roughly $7.6 million of the funds will be returned. 👉After a long negotiation, the hacker agreed to take 45455 SOL as the white hat bounty. Now we have confirmed the receipt of 6064 ETH + 23967.9 SOL in four transactions indicated below. A follow-up compensation plan will be released in 48h. — CremaFinance (@Crema_Finance) July 6, 2022 The hacker returned the funds in a series of four transactions on Ethereum and Solana networks. The first transaction on each network was a test with a small amount, while the following consisted of the majority of the funds sent. The team will also issue a compensation plan for affected users by July 8. The bounty, 45,455 Solana (SOL), is worth a generous 16.7% of the $9.6 million Crema lost initially, which forced the protocol to suspend services. Temporarily Shut Down After $9 Million Hack Earlier last week, Crema Finance announced it was temporarily suspending its services to investigate an expl...

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