The guy responsible for the $11.6 million DeFi protocol exploit at Prisma Finance has claimed it was a “whitehat rescue” and is now attempting to return the funds, according to blockchain communications.
They sent a message from an address linked to the attack, saying, “Hi, this is a whitehat rescue, who can I contact for a refund.” Prisma Finance responded by offering contact information for negotiations approximately 6 hours after the incident.
The message came from the address ‘0x2d4…7507a,’ which was previously related with the attack.
The DeFi company swiftly responded and supplied contact information for refund inquiries: negotiations@prismafinance.com. This interaction occurred approximately two hours after the initial message.
In the field of cybersecurity, a white hat hacker is known for using their skills to discover and report software flaws to the designers rather than exploit them. In contrast, in the cryptocurrencycurrency space, hackers regularly exploit protocol weaknesses and may seek a compensation for reporting the fault or simply return the funds without restrictions.
The attack began on March 28 with fraudulent transactions, resulting in the theft of an estimated $11.6 million and distribution to three separate locations. The hacker then began converting the stolen monies to Ether (ETH), with part of it ending up in a cryptocurrencycurrency mixer called Tornado Cash, according to blockchain security experts.
Prisma Finance has suspended its DeFi protocol while it investigates the incident. Prior to the attack, the protocol’s entire value was over $220 million, but it has subsequently decreased to $115 million. The value of the Prisma Governance Token (PRISMA) plummeted by 30% on the news, but has subsequently recovered marginally.