Transit Swap exploit

Hacker Returns 70% of Funds Stolen in Transit Swap Exploit

03.10.2022 10:02 (Updated 03.10.2022 10:10)
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by Maksym Prykhodko
1 min read

Another day, another crypto hack, but this one has a happy ending. Following the $23 million exploit of the DEX aggregator Transit Swap, the attacker has now returned 70% of that sum, with the rest expected to follow soon.

According to the blockchain security company, PeckShield, the hacker took advantage of a bug in Transit’s swap contract. In a lovely example of solidarity in the crypto industry, other security firms – SlowMist, TokenPocket, and Bitrace, then joined forces with PeckShield. Together, they were able to expressly identify the hacker’s IP, and wallet and e-mail addresses.

Thus cornered, he agreed to return the stolen crypto. Most of the assets received so far come in the form of some 3,000 ETH, 1500 Binance-pegged ETH, and 50,000 BNB tokens. Transit Swap will now start the process of returning the funds to their rightful owners.

Author

  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didn’t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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