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White Hat Hacker Rewarded $97,000, Returns Stolen Funds to DeFi Lending Platform

The person who was responsible for the hack that took place on the loan site has given back the amount of money that was stolen, which is an intriguing turn of events. The site offered a reward or bounty in exchange for the returned monies, which had previously been stolen. verified the news on their Twitter account that the exploiter had finished repaying the debt. The hacker that wore the white hat was given 62.16 ETH, which is equivalent to almost $97,000. a reward equal to 6% of the total money gained using the exploit.

Users of are given the ability to borrow and lend bitcoin assets in a manner that is decentralized. The complexity of these systems, on the other hand, makes them susceptible to a wide variety of security threats, one of which being oracles that have been improperly set.

The lending activities on the platform came to a halt on March 7 after the aforementioned procedure experienced “an exceptional volume of borrows,” which prompted the company to take this action. On the social media platform, a security expert brought attention to the scenario in which a hacker had taken out a loan of $1.59 million worth of assets from the protocol by depositing a single GMX token, which had a value of $71 at the time this article was written.

“It would appear that there was an error in the configuration of your oracle. “Please get in touch with me so we can figure this out,” the hacker stated in an on-chain post.


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