The hacker turned out to be a “white hat” decided to return most of the stolen funds but keep $150,000 as a bug bounty “tip.”
Multichain is a cross-chain protocol that became a victim of crypto theft after they announced that six tokens were vulnerable to hackers. In a surprise twist, one hacker turned out to be a white hat hacker, who returned 80% of the stolen amount to the protocol.
Details of the Incident
According to Multichain, a protocol that was previously known as Anyswap, the hacker has returned 322 Ether, approximately $ 1 million ($974,000 to be precise at the time of return) to the protocol and kept 62 ETH, nearly $150,000, as his bug bounty, according to a tweet from Tal Be’ery, the chief tech officer of ZenGo crypto wallet
The protocol is still at a loss of 528 ETH, which is equivalent to $1.6 million. For your information, Multichain allows users to swap tokens between blockchains.
The platform announced in a blog post that users should start removing smart contract approvals to 6 tokens that were vulnerable to hacking. These tokens include:
Polygon (MATIC)Avalanche (AVAX)Peri Finance (PERI)Mars Token (OMT)Wrapped Ether (wETH)Wrapped Binance Coin