In an unprecedented series of event, a hacker has returned about 90% of funds stolen from decentralised lending platform Lendf.Me.
On Saturday/Sunday morning, the hacker stole $25million in bitcoin and ether from the Decentralised finance platform through a series of fraudulent swap inspired hacks.
However, as things will turn out, the hacker left trails, which could lead to exposure of his identity. There were also reports that he attempted to contact the platform for a truce negotiation.
The hacker started returning funds to the exchange yesterday, and as at today, the hacker has sent about $24million back to the Defi platform, though he did not return the funds in the same tranche, values or currency stolen.
So the big question is, how was the hacker able to perpetrate his acts? According to investigations from the Dforce team, the hacker exploited a vulnerability in the smart contract protocol that allows users to deposit coins as collateral for crypto loans.
Dforce foundation is a Chinese decentralised finance platform, which recently raised $1.5million in capital from some financial institutions, with Multicoin Capital as the lead facilitator of the deal. The foundation currently hosts Lendf.Me and a stablecoin project.
Note: This post was culled from an original article by Cryptonews
