The hacker’s on-chain message came approximately six hours after the hack occurred. However, blockchain security firms noted the hacker had also started swapping the stolen funds for Ether.of decentralized finance protocol Prisma Finance is claiming it was a “whitehat rescue” and is enquiring about returning the funds, according to on-chain messages.
“Hi, this is a whitehat rescue, who can I contact to refund,” the exploiter said on March 28, around 6 hours after the attack. The message came from the address “0x2d4…7507a” — which was earlier“Please contact us at negotiations@prismafinance.com,” the DeFi firm said in response about two hours later.refers to a person who uses their hacking ability to find security vulnerabilities in software code.
However, in the cryptocurrency industry, it is more common for hackers to exploit the protocol and then ask for a white hat bounty in exchange for immunity, though there have also been cases where they’ve returned funds without asking for any reward. The first batch of malicious transactions occurred at 11:29 am UTC on March 28. Prisma Finance is still investigating the root cause of the attack.
Blockchain security firm PeckShield estimated about $11.6 million was stolen and sent to three separate addresses.Prior to the exploit, Prisma Finance had about $220 million in total value locked on its protocol, but that figure has plummeted to $115 million,Over $200 million worth of cryptocurrencies have been lost to hacks and rug pulls across 32 individual incidents over the first two months of 2024, according to Web3 security firm Immunefi.