- Exploiter returns 1,500 BNB to Allbridge
- Remaining funds now white hat bounty
- Binance USD compensates affected users
In an unexpected turn of events, a hacker who stole approximately $573,000 from the multichain token bridge Allbridge decided to return a majority of the funds after the project offered a white hat bounty and a promise of no legal consequences. The exploiter has since returned 1,500 BNB, equivalent to around $465,000, to the project.
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On April 3, Allbridge reported via Twitter that they had been contacted by the individual responsible for the exploit. The remaining funds, after returning the 1,500 BNB, will be granted to the person as a white hat bounty, according to Allbridge.
To compensate affected users, Allbridge converted the returned BNB $ 567.76 -3.11% into the stablecoin Binance USD. The blockchain security firm Peckshield was the first to detect the attack, which occurred on April 1. They alerted Allbridge through a tweet, informing them that their BNB Chain pools swap price was being manipulated by an individual acting as both a liquidity provider and swapper.
In response to the exploit, Allbridge offered the attacker a bounty and the opportunity to avoid legal repercussions. While the exact amount stolen has not been officially disclosed by Allbridge, blockchain security firm CertiK estimates it to be nearly $550,000, and PeckShield’s calculations show the hacker obtained $282,889 in BUSD and $290,868 in Tether, totaling approximately $573,000.
In other news, in an unexpected turn of events, it appears that an Ethereum validator staged an attack against a popular maximal extractable value (MEV) bot, resulting in the loss of approximately $20 million. The event has prompted concerns regarding the network’s security and integrity.
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