Hundred Finance Hacker Transfers Stolen Funds After A Year Of Inactivity
The Hundred Finance hacker, responsible for the $7.4 million crypto theft, resurfaced on May 1 after a year of inactivity and started moving crypto assets from Curve’s decentralized exchange.
Etherscan data revealed that a year ago, the hacker withdrew ETH and USDT worth about $800,000 that had previously served as liquidity on Curve.
Following the withdrawal, the culprit converted the USDT and smaller amounts of altcoins, including PAXG and DAI, into Ethereum. These transactions increased the hacker’s Ether holdings by over $1 million.
#Hundred Finance hacker moves stolen assets a year after $7M exploit :
The #hacker holds about $4.3 million in various #crypto assets in their #Ethereum wallet.
On May 1, the hacker moved #Ether and #Tether worth about $800,000 from #Curve’s decentralized exchange (#DEX) after… pic.twitter.com/s1fQxD2zL7
— TOBTC (@_TOBTC) May 2, 2024
As a result, the hacker now holds a total of $6.48 million worth of crypto assets, including $4.39 million worth of Ether, $1.24 million DAI, $426,000 of Wrapped Ether, $412,000 of FRAX, and smaller amounts of Wrapped Bitcoin.
Hundred Finance, a project on the Optimism blockchain, suffered a security breach in 2023, losing $7.4 million in assets.
According to Peckshield, a popular on-chain security firm, the criminal inflated the exchange rate for hWBTC by donating 200 WBTC. With a tiny amount of hWBTC, they managed to drain Hundred Finance’s lending pools. The exploit was analyzed as a combination of flash loans, critical rounding error, and smart contract manipulation.
The movement of funds from the Hundred Finance attack mirrors a recent report on a similar incident. Earlier this week, CryptoNews reported that the attacker behind the Poloniex security breach had
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