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Transit Swap Attack: The main hacker responsible for the attack on Transit Swap has now returned $2.75 Million in stolen funds and received a substantial bounty.

Transit Finance announced today that the largest hacker to have stolen more than $23million from decentralized exchange ( DEX) Transit Swap will receive a bounty of almost $690,000. This is part of a deal to return funds.

According to Transit Finance’s most recent blog post update, the hacker is known as “white-hat #1” and will return 10,000 Binance Coins (BNB), or $2.75 Million in two tranches.

This is in addition to the funds that were returned last week from the same hacker. Approximately 70% of all the stolen assets.

Transit Finance, a cryptocurrency project, Transit Swap being one, confirmed that white shirt #1 would be able to keep 2,500 BNB (worth about $688,625 current prices) as a “bounty”.

Observers already saw that the hacker had transferred 2,500 BNB from Tornado Cash.

Transit will not hold the hacker responsible if the funds are returned to Transit as promised. Transit will not hold the hacker responsible if the funds are returned as promised.

Transit Finance announced late last week that it had begun the first portion of the refund of assets.

Today’s update will see that 6,500 BNB of funds taken by the primary hacker have been returned. Transit will send another 3,500 BNB back when the second phase of refunds begins.

Transit was sending email notifications to users whose private keys and mnemonics were leaked due to the event.

Investors have been warned by official transit channels that scammers may be attempting to profit from the situation, posing as refund claim service providers.

The post Hacker Gets Paid Nearly $700k for Returning $2.75 Million first appeared on The Daily Encrypt.


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Angie Byrd