Prisma Finance Hacker Claims ‘Whitehat Rescue’ After $11.6 Million Exploit

Prisma Finance’s hacker, who stole $11.6 million from the decentralized finance protocol, claims the exploit was a “whitehat rescue” and is enquiring who to contact to refund the funds, according to on-chain messages.

A white hat hacker tries to find security vulnerabilities in software code using their hacking skills.The attacker then inquired how to return the funds to the protocol using the address “0x2d4…7507a,” previously identified as one of those linked to the attack. In response, about two hours later, Prisma Finance provided contact information for negotiations.that the attacker swapped the stolen funds for Ether shortly after the message.

Most funds lost were due to hacks rather than fraud. Only $103 million was lost from clearly identifiable fraud schemes, such as rug pulls, while over $1.6 billion was lost from hacks and exploits. Of these losses, $1.3 billion occurred in protocols claiming to be decentralized, while only $409 million was lost from centralized finance crypto protocols.

In response to these developments, the Prisma Governance Token experienced a 30% drop to $0.244 after the news. However, it has sinceThe Best Shiba Inu Alternatives in 2024: Meme Coin Deep DiveSign-up FREE to receive our extended weekly market update and coin analysis report Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.

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