Sentiment receives 90% of stolen funds back from hacker
The hacker that stole $1 million worth of crypto from the Sentiment decentralized finance protocol has returned 90% of the funds. Sentiment has confirmed receipt of the funds via Twitter.
Barely 48 hours after suffering a malicious reentrancy attack that gifted the hackers nearly $1 million in altcoins, Sentiment, an Arbitrum-based DeFi lending and borrowing platform, has recovered 90% of the stolen money from attackers.
Sentiment offered a $95,000 bounty to the hacker or anyone with valuable information concerning the incident on April 5, while also giving the bad actors a 2-day ultimatum to return the stolen money.
Fast forward to April 6, and the attacker has returned the stolen funds to a wallet address controlled by the Sentiment project. The DeFi platform also confirms receiving nearly all the stolen money.
In 2022, bad actors successfully stole more than $3 billion from the crypto space via various forms of hacks, rug pulls, and scams. In the first quarter of this year alone, more than $100 million has been lost to crypto thieves.
However, unlike last year, the success rate of bounty negotiations between hackers and projects has skyrocketed.
As reported by crypto.news earlier this week, Euler Finance, which suffered a nearly $200 million flash loan attack in March, announced the recovery of 90% of the stolen funds from the hacker following a successful bounty negotiation.
Similarly, on April 4, reports emerged that the attacker behind the $573,000 Allbridge hack had accepted a ‘white hat reward’ offered by the project in exchange for the stolen crypto assets.