Tender.fi decentralized lending platform hacker has returned the exploit back to the platform in exchange for an Ether bounty of $97,000 which is approximately 6% of the initial stolen funds.
On March 7, at 10:28 AM UTC, the exploit occurred. Shortly after, Tender.fi confirmed the event on Twitter, noting “an unusual quantity of borrows” and adding that it has suspended all borrowing.
By depositing 1 GMX token, which is worth about $71, the exploiter utilized a price oracle bug to borrow $1.59 million in assets from the protocol.
“It appears that your oracle was improperly configured. Please get in touch with me to resolve this, the hacker stated in an on-chain post.
The “White Hat” exploiter had reached an agreement with the DeFi protocol eight hours later, according to which the hacker would refund all debts less a 62.16 ETH “bounty,” which is currently worth about $97,000.
One more hour later, Tender.fi tweeted a confirmation that the exploiter had finished repaying the loan. It stated, “Funds are officially SaFu, post mortem on the way.
Cross-chain Nomad Bridge issued a call to exploiters who took part in a smart contract exploit that took $190 million in money out of the bridge in less than three hours last August.
Only hours later, $32.6 million worth of payments had already been returned, indicating that some of the exploiters may have been white hat hackers looking to steal money for a later, safe return.
A “Whitehat Award” in the form of an NFT was even made available later in the month by the nonfungible token company Metagame to anyone who could demonstrate that they had restored at least 90% of the money they had stolen from the protocol.
Since then, monies have continued to be sent to the recovery account, with the most recent transaction for $7,868 in Covalent Query Tokens being logged on February 18 according to blockchain data from the Official Nomad Funds Recovery Address (CQT).
