According to cryptocurrency auditor SlowMist, the cross-chain DEX (decentralized exchange) aggregator Transit Swap was abused, costing US$23 million in lost funds. According to Transit Swap, the hacker has returned 70% of the money that was taken.
Transit Swap claims it is gathering information to create a refund strategy and has not yet returned users’ money. A total of US$1.07 million BUSD had been stolen, according to SlowMist on Twitter. In a later blog post, it revised the total amount of stolen money to US$23 million.
Transit Swap claimed it had the exploiter’s IP address and email address and was actively contacting them before the hacker issued the refund.
According to Transit Swap, they are still attempting to recoup the final 30% of the funds.
According to Chainalysis, a blockchain analytics company, as of August 2022, US$2 billion in cryptocurrency, or 69% of the total amount stolen, had been siphoned off from cross-chain bridges.
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