• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Analysis of Hacker's Demands in Recent Altcoin Hacking Incident

user avatar

by Giorgi Kostiuk

2 years ago


A hacker who identified as a white hat revealed demands to Prisma Finance developers following an attack that resulted in a significant decline in the protocol's total locked value. The hacker requested an online press conference where team members would showcase their KYC credentials and issue apologies. However, suspicions arose when it was discovered that the hacker had used Tornado Cash to conceal over 3,000 ETH, raising questions about the hacker's true intentions.

Subsequent to the attack, the total locked value in the protocol decreased from around $220 million to $115 million. In response, Prisma Protocol implemented an emergency multisig pause to safeguard remaining funds. Despite the incident, Prisma Finance assured users of the safety of stablecoins like mkUSD and ULTRA, emphasizing their over-collateralization.

The perpetrator of the attack asserted that it was a "white hat recovery" operation and implied an intention to return the funds. It is essential to note that the information presented here does not constitute investment advice.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Three Reasons Why RLUSD Cannot Replace XRP, According to Shah

chest

Three reasons why RLUSD cannot serve as a universal routing asset like XRP, according to Sagar Shah.

user avatarEmily Carter

Shah Explains the Distinction Between RLUSD and XRP Using a Playground Analogy

chest

Shah uses a playground trading analogy to illustrate the different roles of RLUSD and XRP in facilitating trades.

user avatarLucas Weissmann

Evernorth's Sagar Shah Clarifies Roles of RLUSD and XRP

chest

Sagar Shah, Chief Business Officer of Evernorth, clarifies that RLUSD is a digital dollar while XRP serves as a neutral routing asset for cross-asset settlement.

user avatarFilippo Romano

Hyperliquid Overtakes Solana in Market Valuation

chest

Hyperliquid has recently surpassed Solana in fully diluted valuation, highlighting the rise of revenue-generating chains in the cryptocurrency market.

user avatarTomas Novak

Qivalis Consortium Secures Support for Europe-Pegged Stablecoin Initiative

chest

The Qivalis consortium has secured support from 37 European banks for a Europe-pegged stablecoin initiative to enhance the competitiveness of Europe's digital assets market.

user avatarKaterina Papadopoulou

European Commission Initiates Consultation on Crypto Regulation

chest

The European Commission has launched a consultation to review the EU's regulatory framework on crypto assets, known as the Markets in CryptoAssets Regulation (MiCA), to gather feedback from stakeholders and the public.

user avatarMaya Lundqvist

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.