The individual responsible for the $11.6 million DeFi protocol exploit at Prisma Finance has claimed it was a “whitehat rescue” and is now seeking to return the funds, as indicated by messages on the blockchain.
They sent a message from an address associated with the attack, stating, “Hi, this is a whitehat rescue, who can I contact to refund.” Prisma Finance responded by providing contact information for negotiations around 6 hours after the attack.
Their message originated from the address ‘0x2d4…7507a,’ previously flagged as associated with the attack.
Responding promptly, the DeFi company provided contact information for refund inquiries: negotiations@prismafinance.com. This exchange occurred about two hours after the initial message.
In the realm of cybersecurity, a white-hat hacker is known for using their expertise to uncover and report software weaknesses to the creators instead of exploiting them. Conversely, within the cryptocurrency sphere, hackers frequently exploit protocol vulnerabilities and may either demand a reward for revealing the flaw or simply return the funds without any conditions.
The attack began with malicious transactions on March 28, leading to an estimated $11.6 million being stolen and distributed to three different addresses. The hacker then started converting the stolen funds to Ether (ETH), with some of it ending up in a cryptocurrency mixer called Tornado Cash, according to blockchain security firms.
Prisma Finance paused its DeFi protocol while investigating the incident. Before the attack, the protocol had approximately $220 million locked in total value, but this has since dropped to $115 million. The value of the Prisma Governance Token (PRISMA) initially fell by 30% on the news but has since recovered slightly.
Also Read: Munchables Recovers $62.8 Million in Ether After Hack
