$1.5M Returned: Whitehat Hacker's Role in Moby Heist

user avatar

by Giorgi Kostiuk

2 years ago

Yesterday, hackers drained $2.5M from Moby, a DeFi platform. However, $1.5M was reclaimed by whitehat hacker Tony Ke.

First Major DeFi Heist of 2025

This year's first major DeFi heist occurred as hackers drained $2.5 million from the Moby platform on the Arbitrum network. A significant portion of the stolen amount was recovered thanks to efforts by whitehat hacker Tony Ke.

How Hackers Executed the Theft

Moby confirmed that a leaked private key enabled the hacker to exploit a proxy contract and activate an emergency withdrawal function. The stolen funds included 207 WETH and 3.7 WBTC. These were converted to ETH and dispersed across many wallets, as reported by Beosin. Tony Ke detected an error in the hacker’s contract and used it to recover part of the funds.

Funds Recovery and Moby's Next Steps

Whitehat hacker Tony Ke reclaimed $1.5 million in USDC, but the remaining funds, approximately $1 million in WETH and WBTC, remain unrecovered. Moby has pledged to compensate all affected users.

Despite losing part of the stolen funds, Moby aims to restore user trust by compensating losses and enhancing security measures.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Chainlink Launches 24/7 Pricing Service for Onchain Assets

Chainlink has launched a new service that provides a continuous price series for assets, solving the issue of unreliable pricing during off-hours for onchain applications.

user avatarMaya Lundqvist

Securitize Announces Integration with Stellar Network

Securitize announced plans to integrate the Stellar network into its infrastructure for institutional asset managers, enhancing the management of tokenized financial assets.

user avatarKaterina Papadopoulou

Lagarde's Criticism of Bitcoin and Its Implications

Christine Lagarde has been a vocal critic of Bitcoin, emphasizing the need for secure and liquid central bank reserves.

user avatarLeo van der Veen

ECB Advances Digital Finance Initiatives Under Lagarde

Under Christine Lagarde's leadership, the European Central Bank has made notable strides in digital finance, including work on a digital euro and the introduction of Pontes for tokenized asset transactions.

user avatarAisha Farooq

Selection Process for Lagarde's Successor at ECB

The European Central Bank has outlined the process for selecting Christine Lagarde's successor, which will be conducted under Article 283 of the Treaty on the Functioning of the European Union.

user avatarLeo van der Veen

Christine Lagarde Confirms Departure Date from ECB

Christine Lagarde has confirmed her resignation as president of the European Central Bank, effective February 7, 2027.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.