According to data on the Ethereum blockchain, multiple transactions were initiated from 6:00 UTC on Tuesday from an address labeled “Lendf.Me Hack” to the admin address for the Lendf.Me project. The transactions included some huge amounts, such as one for 57,992 ether (ETH), the native cryptocurrency of the Ethereum blockchain, which is worth around $10 million at the moment. In total, hackers returned $24 million out of $25 million that was stolen from dForce.
Hackers return some of the value in other tokens.
Transaction made by hackers involved various U.S. dollar-linked stablecoins, such as USDT, BUSD, TUSD, DAI, USDC, HUSD, and PAX, totaling nearly $10 million. A total of 581 units of WBTC, HBTC, and imBTC, ethereum tokens that peg to bitcoin as underlying collateral, have also been reversed. The sum of these returned tokens is worth around $4 million at the current price of BTC. Interestingly, the hackers did not return exactly the same balance of assets as were stolen but returned some of the value in other types of tokens.
However, the hackers handed back crypto assets worth roughly $24 million. As of this moment, it is unknown why the hackers returned the stolen funds and that too with different types of assets.
dForce suffered the hack because of the well-known exploit of an Ethereum token ERC777.
Recently DForce had announced that it secured $1.5 million in a seed round led by crypto VC fund Multicoin Capital. But over the weekend, it suffered a major hack because of the well-known exploit of an Ethereum toke ERC777. The money was stolen from the contracts of Lendf.Me, a lending protocol that is a part of dForce, a collection of DeFi protocols. Lendf.Me went offline after the hack to investigate the hack, and smart contracts were paused temporarily. The hackers had returned $126,014 to Lendf.Me with a note saying, “Better luck next time,” the same day the hack occurred, and now $24 million have been returned.
