A hacker stole $21 million from decentralized exchange (DEX) Transit Swap, later returning about 70% of it.
The multi-chain DEX revealed the hack happened after an attack on a bug in its code, which it identified through a self-review, it said today on Twitter. Working in conjunction with SlowMist, Bitrace, PeckShield and TokenPocket, the firm acquired relevant information, including valid information on the hacker, its post confirmed.
“We now have a lot of valid information such as the hacker’s IP, email address, and associated on-chain addresses. We will try our best to track the hacker and try to communicate with the hacker and help everyone recover their losses,” it read.
Transit Swap later confirmed that the hacker had returned 70% of the funds. “With the joint efforts of all parties, the hacker has returned about 70% of the stolen assets to the following two addresses,” the post read.
The $21 million hack is perhaps the most high-profile exploit since crypto market maker Wintermute was hacked for $160 million on Sept. 20. Hacks have been on the rise throughout the year, according to Crypto analytics firm Chainalysis, which said that they are significantly outpacing last year’s numbers.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Adam Morgan is The Block’s markets reporter. He has been based in London for the past year, initially freelancing and working for a start-up there before beginning a fellowship at Business Insider. He Tweets @AdamMcMarkets
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