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Crema Finance Hacker Returns $7.6 Million In Stolen Cryptocurrency

Crema Finance Hacker Returns $7.6 Million In Stolen Cryptocurrency

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Answer Crema Finance Hacker Returns $7.6 Million In Stolen Cryptocurrency

Last Sunday, we posted on Arab Bitcoin that the “Crema Finance” protocol was hacked.

Decentralized finance project Crema Finance suspends liquidity services after being hacked

Crema Finance is a liquidity protocol built on the Solana blockchain.

Project losses amounted to 69,422.9 SOL and 6,497,738 USDC, approximately $9 million at the time of the hack.

According to an update from Crema Finance, the attacker returned the stolen funds after negotiations with him.

The Crema Finance team confirmed that the hacker transferred 6,064 ETH ($7 million) and 23,967 SOL ($870,000) to the team’s wallets of Solana and Ethereum in four transactions.

Read:CFTC orders crypto thief to pay $571 million in fine

Under the negotiated deal, the hacker was allowed to keep 45,455 SOL cryptocurrency ($1.65 million) as a reward.

The team categorized the perpetrator as a “white hat,” a term for an ethical hacker.

This means that Crema Finance is unlikely to take any legal action against the still-unidentified hacker.

According to a statement from the Crema Finance team:

After long negotiations, the hacker agreed to take 45,455 SOL as a reward.

We confirm receipt of 6064 Ethereum 23967.9 SOL in four transactions.

After the hack, the team attempted to negotiate with the hacker, sending a message promising a reward.

The next day, the team received a response from the hacker:

Read:One of the most popular venture capital funds announces the creation of a cryptocurrency fund

Crema team, since you’re trying to reach me to negotiate, let’s talk.

The negotiations ended with returning most of the stolen items and keeping a portion of the stolen items as a reward.

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