Hacker Returns 800k in ETH to Multichain Hack Victim

The Multichain hack has cost users $3 million so far. However, one victim managed to get back most of their money – by talking to the hacker directly.

A “white hat” hacker returned about 800k in Ether to a hacking victim. However, the hacker kept $150,000 as a “tip” for keeping the funds safe.

The CTO of crypto wallet ZenGo Tal Beery highlighted the conversation between the hacker and his victim on the blockchain.

The hacker presented himself as a “white hat,” a hacker with good intentions. He said he had taken the funds so that other malicious hackers don’t get it.

In turn, he asked for a reward for his efforts. The hacking victim agreed, and the hacker returned the money.

According to on-chain data, the hacker returned some $815,000 in Ethereum to his victims. Earlier, Multichain reported that one hacker returned 259 ETH to his victims.

Multichain, previously known as Anyswap, also said that about 602 ETH ($1,86 million) is in the hands of hackers.

The company said it is working on getting back the rest of the funds. Moreover, it is warning more users to prevent them from being affected.

Multichain Hack

On Monday, Multichain revealed a vulnerability that affected six tokens: WETH, PERI, OMT, WBNB, MATIC and AVAX.

The firm said that “all assets on both V2 Bridge and V3 Router are safe [and] it can do all cross-chain transactions safely as usual.”

However, they also urged users to remove any approvals for the six tokens. If they did not do so, their funds would be at risk. They also revealed that a security firm Dedaub discovered the bug.

Multichain did not reveal the technical details behind the bug. However, that did not stop the hackers. Multiple hackers rushed to find out what the bug was and if they could exploit it.

It turned out they could. On Tuesday, Multichain reported that hackers stole 445 Wrapped Ethereum ($1,4 million).

Hackers stole $3 million in funds from users who did not remove the six coins’ approvals in the following days.

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Multichain is a cross-chain router, a bridge between the blockchains. It aims to be the ultimate hub for Web 3 apps. In December, the platform raised $60 million in a seed funding round led by Binance. They have a total of $8.8 billion in value locked.

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