Sirwin
Sirwin

Shocking DeFi Drama: Hacker Returns $61M Stolen Funds! ๐ŸŽ‰

By Louky | THE CRYPTO-DEV JOURNAL | 7 Aug 2023


Yo, fellow crypto peeps! ๐Ÿ’ธ Guess what? Some crazy stuff went down in the DeFi world! Hold on to your hats, 'cause this one's a wild ride! ๐ŸŽข

Curve Finance users were freaking out when a hacker swiped a whopping $61 million from the platform. But wait, there's a twist in this tale! Alchemix, one of the victims, had some luck on their side. The sneaky cyber thief agreed to give back the loot but asked for 10% of it in return. And get this, the whole restitution process kicked off on a Friday and wrapped up the very next day. Talk about fast action, right?

So here's the scoop: the hacker found some sneaky flaws in the Vyper programming language, giving them access to mess with the smart contracts. They pulled off some reentrancy magic and got their hands on funds from four liquidity pools (crv/eth, aleth/eth, mseth/eth, and peth/eth). It's like they hit the jackpot in one go, snatching all the crypto goodies!

But hold up, this story gets even crazier! Curve, Metronome, and Alchemix teamed up to offer a bug bounty, a sweet reward of 10% of the stolen cash to get the rest back. And guess what? The hacker actually started returning the money, like some kind of crypto Robin Hood! They sent back 4,820.55 Alchemix ETH (alETH) first, and then finalized the deal the next day. Whoa, talk about fast action and crypto camaraderie!

During the process, the hacker even dropped some messages to the Alchemix crew. They were all like, "Hey, I'm giving the cash back not 'cause you'll catch me, but 'cause I don't wanna mess up your project. It might be big bucks for y'all, but not for me. I'm smarter than the whole gang!" Now, who knows if they're just showing off or actually feeling some love for the blockchain world? We'll probably never know the real deal!

And wait, there's more! The JPEG'd non-fungible token protocol also got a fat reimbursement of 5,495 Ether from the hacker. The deal they made was like, "Hey, no lawsuits, alright? We're calling this a 'white hat' rescue mission, no hard feelings!" Phew, crisis averted!

But let's not forget the bigger picture, my crypto homies. After all those crypto lending platforms going down in 2022, we gotta wonder about the future of this whole DeFi thing. Let's see how this epic saga unfolds. Until then, keep those crypto wallets safe and stay tuned for more crypto capers! ๐Ÿ˜‰๐Ÿš€

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Louky
Louky

"Passionate Crypto Enthusiast, Blockchain Developer, and Music Blogger ๐ŸŽต๐Ÿš€๐Ÿ’ป Welcome to my world where I dive into the fascinating realm of cryptocurrencies, exploring their potential to revolutionize the financial landscape.


THE CRYPTO-DEV JOURNAL
THE CRYPTO-DEV JOURNAL

๐Ÿ“ฐ Hey there, fellow crypto enthusiasts! Welcome to The Crypto-Dev Journal, your ultimate go-to source for all things blockchain, cryptocurrencies, NFTs, and more! ๐Ÿš€ ๐Ÿ”ฅ Buckle up and get ready for a wild ride as we dive headfirst into this exciting world of digital currencies and decentralized technologies. Our blog is the place where we break it down, no frills attached. We speak the language of the crypto community, mixing in some awesome argot to keep things fun and relatable. ๐Ÿ’ฅ

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