Transit Swap DeFi Hacker Returns $16M in Stolen Ethereum, Binance Coin

After raking in roughly $23 million via an attack on Transit Swap, the attacker has reportedly returned roughly 70% of the money.

Transit Swap DeFi Hacker Returns $16M in Stolen Ethereum, Binance Coin

A hacker this morning returned 70% of the $23 million that was stolen from the decentralized exchange (DEX) Transit Swap on Saturday. 

The cross-chain DEX yesterday revealed that the hacker took advantage of a bug in its code, which the company identified in a self-review. 

“After a self-review by the Transit Finance team, it was confirmed that the incident was caused by a hacker attack due to a bug in the code. We are deeply sorry,” tweeted Transit Swap.

Transit Finance is the name of the larger crypto project, of which Transit Swap is one product. The project also has an NFT marketplace. 

— Transit Swap | Transit Buy | NFT (@TransitFinance) October 2, 2022

It also appears that the hacker left behind a considerable trail, with Transit Swap saying it had identified the hacker’s IP, email address, and associated on-chain addresses with the help of crypto security companies SlowMist, Bitrace, PeckShield, TokenPocket, and TransitFinance.

The hacker had reportedly transferred 2,500 Binance Coin (BNB), or $710,000 at today’s prices, to Tornado Cash, the beleaguered cryptocurrency “tumbler” at the center of a legal battle between crypto investors, Coinbase and the U.S. Treasury. 

The Transit Swap team said in a Medium post announcing the attack that the hacker had been depositing and withdrawing funds from crypto exchange LATOKEN, among other platforms.

Transit Swap earlier tweeted it was working with users to formulate a return plan for the stolen funds. 

Crypto hacks on the rise

The hack followed the massive $160 million stolen from algorithmic market maker Wintermute two weeks ago, with crypto analysis firm Chainalysis reporting $1.9 billion worth of hacks for the period ending in July, an increase of almost 60% over last year’s numbers.

But the crown for this year’s most high-profile hack, so far, goes to the $622 million taken from blockchain game Axie Infinity in March, which saw more than 173,000 WETH siphoned off.

Still, crypto crime in the form of scams was down 15% for the year, according to Chainalysis, compared to the 36% decrease in legitimate transactions following the crypto crash earlier this year. 

The firm said that a combination of declining token prices and the lack of new, unsuspecting crypto users might have made scams less enticing to carry out.

Stay on top of crypto news, get daily updates in your inbox.

News Related

OTHER NEWS

World Cup legend Cafu: Brazil's squad can win without Neymar, Lucas Paqueta has matured

Two-time World Cup winner Cafu is confident Brazil's squad depth is deep enough to absorb the absence of Neymar, while he has also been impressed by Lucas Paqueta. Read more »

Tech Companies Begin Rerouting Critical Chip Supplies to Trucks With Rail Strike Looming

DHL Global Forwarding says technology companies are among clients moving shipments to trucking with the risk of a national freight rail strike in December. Chips are critical to industries from ... Read more »

WHO renames monkeypox as ‘mpox,’ citing racism and discrimination concerns

LONDON —  The World Health Organization has renamed monkeypox as “mpox,” citing concerns that the original name of the decades-old disease could be construed as discriminatory and racist. The United Nations ... Read more »

Chargers takeaways: Playoff chances real after clutch win over Cardinals

GLENDALE, Ariz. —  The Chargers scored a touchdown and two-point conversion in the final 20 seconds Sunday to defeat Arizona 25-24 at State Farm Stadium. The fourth-quarter comeback was the 10th ... Read more »

Hundreds protest China’s zero-Covid policy in London as demonstrations held around world

Hundreds protest China’s zero-Covid policy in London as demonstrations held around world Hundreds of activists called for President Xi to resign outside London’s Chinese Embassy as public outcry against the ... Read more »

Cyber Monday deals: Best Christmas gift sets to shop before midnight

Oops! Something went wrong. Please try again later. The Christmas beauty gift sets not to miss in the Black Friday sales. (No7 /Boots) Christmas is now fast approaching and if ... Read more »

20 best deals from the J.Crew Cyber Monday sale 2022: dresses, sweaters, more

NY Post Composite If you consider yourself a fashionista, buckle up: J.Crew’s Cyber Monday sale is happening right now and it’s yours for the taking! This means you can still ... Read more »

Chinese bots swamp Twitter with porn to hide news of mass protests

Protesters shout during a protest against Chinas strict zero COVID measures on November 28, 2022 in Beijing, China. Getty Images Chinese bots are swamping Twitter with sexually explicit posts about ... Read more »

Shoprite employs first heavy-duty electric truck in South Africa

The Shoprite Group, which owns popular grocery store Checkers, has become the first retailer in South Africa to employ a heavy-duty electric truck as part of its delivery vehicle fleet. ... Read more »

Edward Norton And Janelle Monae Talk Their Characters' Complicated Backstories In Glass Onion - Exclusive Interview

John Wilson/Netflix There are a few ingredients you need for a successful whodunit. For starters, you need a solid, eccentric detective who’s able to see all of the clues anyone ... Read more »

Trudeau to visit First Nation rocked by stabbings

JAMES SMITH CREE NATION, SASK. – Prime Minister Justin Trudeau will visit a First Nation in Saskatchewan that was rocked by a deadly stabbing rampage nearly three months ago. Trudeau ... Read more »

Doddie Weir: what has fellow MND sufferer Rob Burrow said after rugby player’s death?

Former rugby league player Rob Burrow has paid tribute to Doddie Weir for helping him deal with his own diagnosis of motor neurone disease. , which Both have embarked on ... Read more »

Nets’ Seth Curry working his way into in Sixth Man of the Year conversations

It’s time to add Brooklyn’s sharpshooter Seth Curry to the docket for the NBA’s Sixth Man of the Year award. Curry came off the bench to hit seven threes for ... Read more »

Protests in China: are people protesting over Covid-19 lockdown rules - and how has President Xi reacted?

Demonstrations against China’s restrictive Covid-19 measures have spread to a number of cities in a rare show of fanned by anger over a deadly fire in the western Xinjiang region. ... Read more »

River North Restaurants Cut Hours More Than Any Area in US During COVID, Analysis Shows

Restaurants in Chicago’s River North neighborhood cut their operating hours more during the COVID-19 pandemic than restaurants in any other part of the country, according to a new survey. Some ... Read more »

Scammers Will Be Out in ‘Full Force' Cyber Monday, BBB Says. These 4 Tips Can Help

Cyber Monday — the biggest online shopping day of the year — is here. And while shoppers hope to score online deals on big ticket items like Apple electronics and ... Read more »

Fears rise that UC strike could have long-lasting consequences on vaunted research, teaching

As the nation’s largest ever strike of higher-education academic workers enters its third week Monday, with the crunch time of final exams just days away, fears are rising over long-lasting ... Read more »

Editorial: Measure ULA is the best gift Karen Bass could get as mayor

Here are two heartening things that happened in the past few weeks: the passage of Measure ULA, which will provide hundreds of millions of dollars annually to build affordable housing ... Read more »

Column: 30 years of masa dreams at a tamale festival in Indio

INDIO, Calif. —  When Juan Carlos Barajas was growing up in the 1990s in the Coachella Valley, the Indio International Tamale Festival was an annual treat. It was “the thing to ... Read more »

The Times podcast: A decade of downers with DACA

Listen to this episode of The Times: For the last decade, about 800,000 individuals who came to the United States as children but have no legal status have been protected ... Read more »

Inside months of chaos at L.A. County’s juvenile halls: lockdowns, staff shortages

The desperation pervading Los Angeles County’s juvenile halls can be distilled into a single incident and its aftermath. A veteran probation officer — too afraid of retaliation to reveal their ... Read more »

La nueva historia turca de la pantalla chica ‘Amor y Traición’ trae de vuelta a Akin Akınözü

Para nadie es un secreto que las historias turcas han logrado atrapar la atención de la audiencia hispana de los Estados Unidos y es por ello que las cadenas estadounidenses ... Read more »

GTA voted game “most likely not to succeed” by Rockstar creators

GTA was originally considered the game “most likely not to succeed” by Rockstar predecessor DMA Design, hard to imagine as we anticipate the GTA 6 release date Read more »

People in China: tell us about the zero-Covid policy protests

Photograph: Mark R Cristino/EPA Protests over China’s Covid restrictions have spread to several cities, with demonstrations in Shanghai, Beijing, Chengdu, Wuhan and Guangzhou following a deadly fire in the far ... Read more »

Social media app Frog reveals success of SUPmarket pop-up activation

With searches for ‘immersive experience’ reaching their highest point in five years this summer, Gen Z social media app Frog reveals the success of its pop-up activation - the SUPmarket. Read more »

This Jujutsu Kaisen gaming PC is a lesson in cable management

A gaming PC enthusiast is not messing about when it comes to their love of Jujutsu Kaisen, with this custom manga rig that also sports an Nvidia RTX 3070 Ti Read more »

Wolf of Wall Street Jordan Belfort Admits He Lost $300,000 in Crypto Hacking – This is What Happened

Jordan Belfort. Source: a video screenshot, The Wolf of Wall Street / YouTube Jordan Belfort, the former stockbroker known as ‘The Wolf of Wall Street,’ claims that he lost more ... Read more »

China further eases restrictions but reaffirms zero-COVID stance amid protests

Authorities eased anti-virus rules in scattered areas but affirmed China’s severe “zero- COVID” strategy Monday after crowds demanded President Xi Jinping resign during protests against controls that confine millions of ... Read more »

Bronx mom described by relatives as obsessed with demons charged with murdering her two young sons

Dimone Fleming and her older son who died, Daishawn Fleming (Obtained by Daily News) The young Bronx mother described by relatives as obsessed with demons has been charged with murdering ... Read more »

Iran supreme leader's niece calls on governments to cut ties with 'murderous and child-killing regime'

Farideh Moradkhani, a well-known rights activist, made the comments in a video posted online two days after she was arrested. Read more »

Migrants moved from Manston to UK hotels as diphtheria cases rising among asylum seekers

Migrants are being moved from processing centre after suffering from . There have been dozens of suspected cases of the highly contagious disease among asylum seekers among those who have ... Read more »

Will Smith is on ‘probation’ with Black Hollywood. But it may not last much longer

The evening that Tyler Perry is calling one of his “most heartbreaking” happened eight months ago. But the memory is still fresh — and hurtful. “I felt the pain of ... Read more »

The vanilla iQOO 11 tipped to arrive in five variants

Photo courtesy of GSMArena iQOO Malaysia has confirmed that the iQOO 11 5G is coming to Malaysia. The series is scheduled to debut in China on 2 December and will ... Read more »

Instructions on how to broadcast wifi from iPhone phones simply and effectively

How to broadcast wifi from iPhone phone is information quite a lot of users are interested in during use. If you do not know how to turn on this feature ... Read more »

Shop the best Cyber Monday KitchenAid mixer deals for 2022

New York Post Composite Ready to mix things up this Cyber Monday and beyond? After shopping the normal bedding, fashion and beauty finds, take a step back and into the ... Read more »

Mom of Bronx boys found fatally stabbed in bathtub charged with murder

Dimone Fleming, 22, of The Bronx, was charged Sunday night with multiple counts of murder in the stabbing deaths of her two sons, ages 11 months and 3 years. Facebook/Dimone ... Read more »

Mike White makes everyone happy

AP As the saying goes, the most popular player in football is the backup quarterback. Reintroduce yourself to Mike White, who, even though he is starting, is a backup quarterback ... Read more »

‘The Great Gatsby’, ‘Moulin Rouge!’ Oscar Winner Catherine Martin To Be Honored With Australia’s Highest Cinema Award

Catherine Martin AACTA Oscar and Bafta-winning costume, production and set designer and producer Catherine Martin is to be honored by the Australian Academy of Cinema and Television Arts (AACTA) with ... Read more »

Monkeypox renamed ‘mpox’ by WHO following racism concerns

The World Health Organization has renamed monkeypox as mpox, citing concerns the original name of the decades-old animal disease could be construed as discriminatory and racist. The UN health agency ... Read more »

Kate Keltie: who was her Neighbours character? What has actress said about stage 4 breast cancer diagnosis

Kate Keltie, 36, who is best known for playing Michelle Scully in Neighbours, revealed this month that she had been diagnosed with stage four breast cancer. The Australian actress starred ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network