Transit Swap DeFi hacker collects $690,000 bounty after returning $2.75 million

It pays to be a white hat hacker in crypto.

The Biggest Hacker Who Stole More Than $23M From Decentralized Exchanges (DEX) Transit Swap will demand a premium worth nearly $690,000 in a deal to return user funds, Transit Finance said today.

Known as “White Hat #1,” the hacker will return 10,000 Binance Coins (BNB), approximately $2.75 million, in two tranches, the company said latest blog post Update from Transit Finance.

That’s beyond the means Returned this time last week by the same hacker that dropped about 70% of the stolen assets.

Transit Finance, a crypto project of which Transit Swap is a product, confirmed that White Hat #1 would keep 2,500 BNB worth approximately $688,625 at current prices as a “bonus” for the event.

had observers already noticed that the hacker had transferred the 2,500 BNB to Tornado Cash.

If the funds are returned as promised, Transit will not hold the hacker legally responsible.

However, other people involved in the attack are not off the hook just yet.

Uniswap[/link] (UNI) tokens and 1,667 MANA, Decentraland’s in-game currency.

Transit’s next steps

Late last week, Transit Finance said it had started the first part of the refund of users’ funds.

According to today’s update, about 6,500 BNB of the funds stolen by the primary hacker will be returned today. Another 3,500 BNB will then be sent back once Transit initiates the second phase of the refund.

Transit sent emails to users whose private keys or mnemonics were leaked as a result of the event.

Official transit channels have also warned investors that several scammers are trying to take advantage of the situation by posing as refund request service providers.

Stay up to date on crypto news and receive daily updates in your inbox.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers