Analysis of Hacker's Demands in Recent Altcoin Hacking Incident

user avatar

by Giorgi Kostiuk

3 years ago

Made with AI


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.

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

Grayscale Appoints BitGo as Custodian for Hyperliquid Staking ETF

Grayscale has appointed BitGo Bank Trust as an additional custodian for its Hyperliquid Staking ETF to enhance custody services and operational flexibility.

user avatarAndrew Smith

Avalanche Sees Surge in Tokenized US Treasury Assets

The value of tokenized US Treasury assets on the Avalanche network has surged to approximately $545 million, marking a fourfold increase over the past year.

user avatarJacob Williams

Metaplanet Shows Liquidity Management with Strategic Bitcoin Transactions

Metaplanet sold 10,000 BTC for approximately $790 million and bought back 11,000 BTC for around $950 million, demonstrating its ability to manage liquidity effectively.

user avatarSon Min-ho

Navra Secures $19 Million in Series A Funding to Bridge Traditional Finance and Blockchain

Navra, a startup led by Mike Cagney, has successfully raised $19 million in Series A funding to enhance access to blockchain-based financial markets for traditional investors.

user avatarZainab Kamara

Arbitrum Proposes Strategic Initiative for USDG Stablecoin

Arbitrum has proposed a governance initiative to back USDG as a core strategic stablecoin within its ecosystem, including adding 100 million ARB to enhance liquidity and adoption.

user avatarTando Nkube

BitGo and HashKey Cloud Expand Partnership in Asia-Pacific

BitGo and HashKey Cloud have expanded their partnership to cover multiple areas of institutional crypto infrastructure, including staking, trading, custody, and asset tokenization in Singapore.

user avatarAyman Ben Youssef

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.