Crema Finance Hacker Returns Stolen Crypto Following Negotiation

Crema Finance has received 6,064 Ethereum (ETH), valued at $7 million and 23,967 Soland, (around $870,000), from a hacker who had snatched 69,422.9 SOL (roughly $950,000) and 6,497.738 USDC stablecoins (roughly $950,000) after the company suffered a flashpoint loan exploit on Sunday.

The funds were transferred in four transactions to the wallets of the team on Solana or Ethereum.

Crema Finance, a concentrated liquidity protocol for Solana said that the hacker had returned stolen funds after negotiating to keep 45.455 SOL ($1.65 Million) as a bounty.

According to The Block, the team has labeled the perpetrator a “white-hat,” which is a term used for ethical hackers. This indicates that they are not planning to sue the hacker.

“After long negotiations, the hacker accepted to accept 45,455 SOL for the white-hat bounty. “Now we have confirmed the receipts of 6,064ETH + 23,967.9 SOL through four transactions,” said the Crema Finance team.

Crema Finance offered an immediate bounty of $800,000. Before contacting law enforcement officials and initiating an investigation, the company had already conducted a negotiation.

Image source: Shutterstock



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