The Solana-based decentralized finance protocol Crema Finance can exhale a breath of relief now as its hacker negotiated and accepted over $1M in bounty and returned most of the funds.
A few days back, Crema Finance suffered a hack worth over $8.8M by creating a false tick account and evading Crema Finance’s checks.
Soon after uncovering the attack, the protocol offered the hacker an $800,000 bounty given that it represents nearly 10% of the stolen funds, or else it would begin working with law enforcement to track down the hacker.
However, the hacker had other plans. The hacker responded by saying “Crema team, since you are trying to reach me to negotiate, let’s chat.”
After a series of back-and-forth discussions, the attacker eventually requested a far bigger bounty of 45,455 SOL, over $1.7M.
Crema Finance confirmed the receipt of 6,064 ETH and 23,967.9 SOL in four transactions into the protocol’s Solana and Ethereum wallets. At the current exchange rate, the funds returned totaled $7 million.
Crema Finance promises that a compensation plan will be announced within the next two days now that it has struck an agreement with the “white hat” hacker.
This is not the first time DeFi platforms have offered white hat bounty to the hackers but in most cases, they run off with the money. Well, recently Harmony Protocol offered a $1M bounty to its hacker, but the hacker moved the stolen funds to Tornado Cash Ethereum Mixer thus, hinting that the hackers refuse to accept the $1M bounty.
