The Return of the Hacker: $4.3 Million Worth of Stolen Crypto Still at Large
The hacker who stole $7.4 million worth of cryptocurrency from the DeFi protocol Hundred Finance has resurfaced a year after the initial theft. On May 1st, the hacker moved nearly $800,000 worth of Ethereum and USDT via Curve, converting the funds into various digital assets.
As of now, the hacker is in possession of stolen assets totaling $4.3 million, including coins such as Dai, Wrapped Ether, Frax, and Wrapped Bitcoin. The theft took place on April 15, 2023, through an attack on the Optimism network, utilizing flash loans to manipulate exchange rates and withdraw more funds than originally deposited.
A History of Exploits
This is not the first time Hundred Finance has fallen victim to cybercriminals. In 2022, the protocol suffered an exploit on the Gnosis blockchain, resulting in a loss of over $6 million. Hackers used replay transactions to drain liquidity from the platform.
According to PeckShield, a blockchain security firm, hackers stole approximately $60 million from crypto exchanges in April 2024, a stark decrease from previous months where losses surpassed $360 million in February and $187 million in March. These incidents highlight the persistent security risks within the cryptocurrency industry, emphasizing the importance of robust measures to safeguard digital assets.
