Crema Finance hacker recovers stolen crypto
Following discussion, the Crema Finance hacker has repaid the stolen cash. On Sunday, Crema Finance, a protocol for focused liquidity on Solana, fell victim to a flash loan exploit.
At the time of the incident, the losses were 69,422.9 SOL and 6,497,738 USDC stablecoin, or almost $9 million.
Following negotiations, the perpetrator has repaid the stolen monies, as reported by Crema Finance. Crema Finance verified that the hacker deposited 6,064 ETH and 23,967 SOL to the team’s Solana and Ethereum wallets in four separate transactions.
According to the bargaining agreement, the hacker was permitted to retain the bounty payment of 45,455 SOL ($1.65 million). The team has identified the attacker as a “white hat,” which is a phrase for ethical hackers. This indicates that Crema Finance is unlikely to pursue legal action against the unidentified hacker.
“After lengthy negotiations, the hacker consented to accept the white hat reward of 45,455 SOL. The team has now verified the receipt of 6,064 ETH and 23,967.9 SOL over four transactions.
After the breach, the team attempted to negotiate with the hacker by sending a onchain message including an offer of a bounty. The next day, it received an on-chain response from the hacker stating, “Crema team, since you are attempting to bargain with me, let’s discuss.”