Solana-based decentralized finance protocol Crema Finance has managed to get its stolen funds back
Solana-based decentralized finance protocol Crema Finance recently announced that it has managed to reach a deal With a hacker who helped a flash loan attack last week decimated the platform worth $8.78 million in cryptocurrency.
As reported by U.Today, Crema Finance was forced to shut down its liquidity services as a result of the hack.
The team behind the protocol immediately offered an $800,000 reward to the attacker before contacting law enforcement officials and launching an investigation. The Blockchain project began working with leading security firms in the industry to monitor attackers’ funds. The hackers managed to negotiate a massive reward of 45,455 SOL tokens (about $1.7 million at press time). In return, they returned the stolen cryptocurrency worth about $7.6 million.After striking a deal with the “white hat”, Cream Finance claims that a compensation plan will be unveiled within the next two days.
Last August, the attacker behind the Poly Network hack finally agreed to return nearly $610 million worth of stolen funds after weeks. “Mr. White Hat” did not specify what led to his change of heart, but it is possible that whoever was behind the attack simply wanted to teach the embattled DeFi protocol a much-needed lesson.
Some other major blockchain projects were not so lucky. As U.Today reports, the $625 million Ronin hack of Axie Infinity was linked to the Lazarus Group, a notorious cybercrime collective controlled by the North Korean government.
Blockchain investigator Elliptic also suggested that the recent $100 million Harmony attack was also carried out by North Korean hackers.