JPEG'd confirms return of 5,495 ETH from Curve hacker
Nonfungible token finance (NFT-Fi) protocol JPEG’d has confirmed that 5,495 Ether (ETH), worth roughly $10 million at current prices, has been returned by the Curve Finance hacker.
In exchange for returning the funds that were stolen on July 30, the hacker received a 610.6 ETH ($1.1 million) bounty.
JPEG’d exploit update:Seems 5495 ETH was returned just now for a 10% whitehat bounty. 0x003b00378ac52c10200d8fcac0e42138a34e46b9d7c3350ad3372ae0eb141df3Michael Razum is not the exploiter but was linked on-chain bc a few of his contracts were drained by this person. pic.twitter.com/mc3GGx2gyd
JPEG'd is a decentralized lending protocol that enables users to borrow funds against their collateralized NFTs. As part of the major hack on Curve Finance, the protocol lost $11.6 million worth of crypto.
In an Aug. 4, X (Twitter) thread, the team stated that the funds have been returned to the JPEG’d decentralized autonomous organization multisig wallet address.
“Any further investigations or legal matters against the entity will end. We view this occurrence as a white-hat rescue,” the JPEG’d team stated.
The JPEG'd DAO confirms receipt of 5,494.4 WETH back to the JPEG'd Multisig for a total of 5,495.4 WETH. A 10% white-hat bounty of 610.6 WETH was awarded to the owner of the address that recovered funds from the pETH exploit.https://t.co/nIBwHHxfQU
The decentralized finance (DeFi) ecosystem copped a significant hit in late July, after several liquidity pools on Curve Finance were drained.
The hacker managed to exploit a security vulnerability in the Vyper smart contract programming language that these particular pools were coded with, and the total losses were estimated to be around $70 million worth of crypto.
The exploit impacted
Read more on cointelegraph.com
