Crema Finance Hacker Takes USD 1.7M in Bounty, Returns USD 8M

Author

Ruholamin Haqshanas

Author

Ruholamin Haqshanas

About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Author Profile

Share

Copied

Last updated: 

October 23, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

The hacker who exploited Crema Finance, a concentrated liquidity protocol built on the Solana (SOL) blockchain, has reached a compromise with the decentralized finance (DeFi) protocol to return the majority of stolen funds while keeping some as compensation.

The team announced today that “after a long negotiation,” the hacker returned ETH 6,064 (USD 7.19m) and SOL 23,967.9 (USD 892,565), while keeping the remaining SOL 45,455 (USD 1.69m) as “the white hat bounty”.

1st ETH txn:https://t.co/CcCE9lRHep

2nd ETH txn: https://t.co/riooC7YHwI

1st SOL txn:https://t.co/wRZfOXFe03

2nd SOL txn:https://t.co/oCrdtAqxAE

— CremaFinance (@Crema_Finance) July 6, 2022

As reported, the Solana-powered project lost around USD 9m worth of crypto assets in a flash loan attack over the weekend.

At the time, the protocol shared the addresses linked to the hacker and claimed that they would be tracking the movement of stolen funds.

“More and more relevant organizations are providing valuable clues for us. Also, we’re still open to a communication with the hacker before the time window is closed,” the project said back then.

____

Learn more: 
– Solana-Powered Crema Finance Loses Almost USD 9M in Flash Loan Attack
– XCarnival Hacker Accepts ETH 1,500 Bounty and Returns Remaining ETH 1,467

– ONE Keeps Trending Lower while Harmony Offers Hacker USD 1M in Bounty for Return of Funds
– Axie Infinity’s Ronin Bridge to Re-Open After Hack, Locked Funds to Be Returned

– Hackers Stole USD 670M from DeFi Projects in Q2, Up by 50% from Q2 2021
– Another Report Confirms That Criminal Behavior Keeps ‘Dropping as a Percentage of Overall Crypto Activity’