The hacker behind the exploit of the decentralized finance (DeFi) lending platform Tender.fi has returned the stolen funds for a $97,000 bounty reward in Ether (ETH).
The exploit was executed at 10:28 am UTC on Mar. 7, with Tender.fi confirming the incident on Twitter quickly after citing “an uncommon quantity of borrows,” and including it has paused all borrowing.
Blockchain knowledge confirmed the exploiter used a worth oracle glitch to borrow $1.59 million value of property from the protocol by depositing 1 GMX token, valued at round $71.
“It appears like your oracle was misconfigured. contact me to kind this out,” wrote the hacker in an on-chain message.
Eight hours later, the DeFi protocol introduced it had come to an settlement with the “White Hat” exploiter, wherein the hacker would repay all loans minus a 62.16 ETH “bounty,” value round $97,000 at present costs.
Translation: The White Hat will repay all loans minus 62.158670296 ETH, which shall be stored as a Bounty for serving to safe the protocol. The https://t.co/H4ZMPLH9pz Staff will repay the Bounty s worth to the protocol, in order that there shall be no unhealthy debt and customers will stay… https://t.co/5bbmKu7zEe
— Tender.fi (@tender_fi) March 7, 2023
One other hour later, Tender.fi confirmed on Twitter that the exploiter had accomplished the mortgage repayments.
“Funds are formally SaFu, publish mortem on the way in which,” it wrote.
Associated: DeFi lender Tender.fi suffers exploit, white hat hacker suspected
Final 12 months in August, cross-chain Nomad Bridge appealed to exploiters that participated in a sensible contract exploit that extracted $190 million in funds from the bridge in lower than three hours.
Mere hours later, roughly $32.6 million value of funds had been already returned, suggesting a few of the exploiters could have been white hat hackers making an attempt to extract funds for a later secure return.
Later within the month, nonfungible token (NFT) agency Metagame even supplied a “Whitehat Prize” within the type of an NFT for anybody that proved they returned at the very least 90% of the funds they stole from the protocol.
1/ Our mates at @metagame created an earned NFT as a thanks to whitehats who returned funds from the Nomad Bridge Hack. Head over https://t.co/TWwuJwnRXj to assert it! pic.twitter.com/V87rkGhBEE
— Nomad (⤭⛓) (@nomadxyz_) August 23, 2022
Blockchain knowledge from the Official Nomad Funds Restoration Deal with reveals that funds continued to be returned to the restoration tackle since then, with the newest transaction recorded on Feb. 18, 2023, for $7,868 in Covalent Question Token (CQT).