Regardless of the market crypto are "running out of money" at the moment, hackers still can't let go of projects in the industry.
Transit Swap, a liquidity aggregation platform DeFi lost more than $21 million when hackers exploited an internal bug on the swap. Following the incident, Transit Swap issued an apology to users with efforts to track down and recover the stolen funds currently underway.
NFT (@TransitFinance) October 2, 2022
Peckshield, along with other investigative firms, including SlowMist, Bitrace and TokenPocket, were involved in this incident to track down the hacker helping Transit Swap. The union released a statement:
“We now have a lot of valid information like IPs, email addresses and hacker links. We will do our best to track down the hacker and try to get in touch to assist Transit Swap in recovering their loss.”
Accordingly, Peckshield gave a diagram that describes the flow of stolen assets by hackers through multiple channels. DEX different as UniSwap, PancakeSwap or Tornado Cash mixer as well as the MEXC exchange.
Here comes the flow of stolen assets w/ the cost of ~$21M. @0xTransition Note the hacker may have performed earlier withdrawals from known exchanges. https://t.co/cZhQk2fotf pic.twitter.com/eGGFiD0LIW— PeckShield Inc. (@peckshield) October 2, 2022
Fortunately, at the time of writing, efforts from the above investigative platforms had achieved some success when Transit Swap confirmed that the hacker had returned 70% of the stolen funds. However, the platform is still determined to implement more solutions to recover the remaining funds.
📢📢📢Updates about TransitFinance— Transit Swap | Transit Buy | NFT (@TransitFinance) October 2, 2022
1/5 We are here to update the latest news about TransitFinance Hacking Event. With the joint efforts of all parties, the hacker has returned about 70% of the stolen assets to the following two addresses:
Although the market is in a rather "boring" period when it does not receive and attract any more money from outside to pour into investment, it seems that the situation hack is increasing rapidly. In a related development, last week, a well-known market maker in the industry cryptocurrency It's Wintermute who just got sick hack up to $160 million.