A large portion of the roughly $573,000 stolen from the Allbridge multi-chain token bridge was returned after the exploiter apparently accepted the project's offer for a white hat bounty and no legal retaliation.
allbridge tweeted on April 3 that he received a message from an individual and 1,500 BNB (bnb), worth approximately $465,000, was returned to the project.
"The remaining funds will be considered a white hat reward for this person," Allbridge said.
Update on the exploit
1/ Our team was contacted by the owner of https://t.co/EW1uxXBQpD.
1500 BNB was returned to our team. Any remaining funds will be considered a white hat reward for this person.
-Allbridge (@Allbridge_io) April 3, 2023
He explained that all "BNB received" was then converted to the Binance USD stablecoin (BUSD) to be used as compensation.
block chain Peckshield security company first identified the attack carried out on April 1, warning Allbridge in a cheep that their BNB Chain pool swap price was being manipulated by an individual acting as liquidity provider and swapper.
Following the exploit, Allbridge offered the attacker a reward and a chance to escape any legal ramifications.
Allbridge has yet to publicly reveal how much was stolen, but blockchain security firm CertiK He said addition is close to $550,000 while PeckSheild saying the exploit generated $282,889 in BUSD and $290,868 in Tether (USDT), for a total of approximately $573,000.
allbridge too revealed that a second address used the same exploit and shared a link to a wallet that currently contains 0.97 BNB, valued at around $300.
"We have asked the second operator to come forward and discuss the return," Allbridge said.
After the initial exploit, Allbridge did clear they were on the trail of the stolen funds and were working with a wide variety of organizations to recover the stolen loot.
Related: DeFi Exploits, Access Control Hacks Cost Crypto Investors Billions By 2022: Report
The BNB chain was among who responded to the call to arms and reported on an April 2 cheep which uncovered at least one of the culprits involved through on-chain analysis.
BNB Chain has identified the Allbridge attacker following on-chain analysis. We actively support the Allbridge team in recovering funds. Allbridge's team has offered a bounty to the hacker.
We would like to acknowledge the efforts of AvengerDAO in this recovery effort.
โ BNB Chain (@BNBCHAIN) April 2, 2023
According to BNB Chain, he is "actively supporting the Allbridge team in the recovery of funds" and thanked AvengerDAO for their efforts in the recovery.
Cointelegraph reached out to Allbridge for further comment but did not receive an immediate response.
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