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Home Crypto Exchanges

Sentiment Recovers 90% Of Stolen Funds From Hackers

Hania by Hania
April 6, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Sentiment Recovers 90% Of Stolen Funds From Hackers
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A hacker who stole $1 million in cryptocurrency from Sentiment’s decentralized finance protocol has returned 90% of the money. Through Twitter, Sentiment has acknowledged receiving the payments.

It has taken Sentiment, an arbitrum- based DeFi lending and borrowing platform, just 48 hours to recover 90% of the stolen funds after being attacked by reentrancy hackers who stole nearly $1 million in altcoins.

On April 5, Sentiment offered a $95,000 bounty to the attacker or anyone with valuable information about the incident, and gave those who were responsible a two-day deadline to return the stolen funds.

Read More: Sentiment DeFi Platform Lost $1 Million To A Hacker On Arbitrum

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On April 6, the attacker returned the stolen funds to a wallet address under the custody of the Sentiment project. Additionally, the DeFi platform verifies receiving nearly all of the stolen funds.

#CertiKSkynetAlert 🚨

Sentiment exploiter 0xdd0 has sent ~$477.1k (250 ETH) to wallet 0xc5f that is believed to be controlled by the @sentimentxyz team

Yesterday, 0xc5f sent a message to the Sentiment exploiter outlining a $95K reward if the assets are returned

Stay safe! pic.twitter.com/swPBmr73ST

— CertiK Alert (@CertiKAlert) April 5, 2023

Through numerous types of hacks, rug pulls, and scams, perpetrators successfully stole over $3 billion from the crypto space in 2022. In just the first three months of this year, crypto criminals have stolen over $100 million. 

Sentiment Recovers 90% Of Stolen Funds From Hackers

In contrast to the previous year, however, the success rate of bounty negotiations between hackers and projects has increased dramatically.

Earlier this week, following a successful bounty negotiation, Euler Finance, which experienced a nearly $200 million flash loan attack in March, recovered 90% of the stolen funds.

Similarly, on April 4, it was reported that the hacker responsible for the $573,000 Allbridge attack had accepted a ‘white hat reward’ in exchange for the stolen crypto assets. 

Recommended:

Euler Labs Hacker Returns “All Recoverable Funds” From The $200M Euler Finance Hack

Allbridge Recovers Majority of Stolen Funds After Attack

Tags: Arbitrumbountycyber attackDeFi
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Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

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