The hacker who stole $1.59 million value of crypto belongings from Arbitrum-based decentralized finance (DeFi) lending platform Tender.fi has returned practically all of the funds, holding roughly $97,000 as a bounty reward.
Tender.fi was exploited on the morning of March 7, with the challenge’s official Twitter deal with confirming the incident in a tweet a couple of minutes later.
Tender.fi Exploited for $1.59 Million
Based on the tweet, Tender.fi disclosed that it had seen and was wanting into an “uncommon quantity” of loans. The platform additionally paused its lending service throughout the investigation.
On-chain knowledge confirmed that the attacker exploited an oracle glitch. The bug allowed the hacker to borrow as much as $1.59 million in ether (ETH) tokens with a deposit of 1 GMX token value $71 as collateral.
After the exploit, the hacker left an on-chain message for Tender.fi, saying, “It seems like your oracle was misconfigured. contact me to kind this out.” This exhibits that the exploiter is a white hat hacker.
Just a few hours later, Tender.fi disclosed that it had contacted the attacker to barter and talk about the phrases of a bounty settlement.
“The whitehat has made contact over debank and we’re at the moment in discussions on the way to treatment this case. We are going to replace you with extra info when we have now it,” the protocol mentioned.
Hacker Retains $97k as Bounty
Seven hours later, the protocol revealed that it had agreed with the hacker and the funds can be returned.
About an hour later, the hacker returned $1.49 million and stored $96,500 as a bounty. Each Tender.fi and blockchain safety agency PeckShield confirmed the transaction.
Translation: The White Hat will repay all loans minus 62.158670296 ETH, which might be stored as a Bounty for serving to safe the protocol. The https://t.co/H4ZMPLH9pz Group will repay the Bounty s worth to the protocol, in order that there might be no dangerous debt and customers will stay… https://t.co/5bbmKu7zEe
— Tender.fi (@tender_fi) March 7, 2023
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