A recent incident involving the DeFi protocol Texture resulted in the hacker returning 90% of the stolen funds, receiving a 10% reward. The total loss was $2.2 million in USDC.
The Texture Hacker Incident
Due to a security vulnerability, $2.2 million in USDC was stolen from the Texture protocol. The hacker returned approximately $1.98 million, opting for a 10% bounty. Texture's official account confirmed that most of the funds were returned.
Funds Return and Community Reaction
The hacker's decision to return 90% of the funds was met with cautious optimism from the community, which was directly affected by the breach. No legal action will be pursued against the hacker.
Future Security Measures of Texture
Texture is collaborating with auditors to complete code repairs while a redeployment of the contract is expected soon. The incident highlights the rising security risks within the DeFi sector and the need for enhanced precautions.
The Texture hacker incident underscores the importance of improving security measures in DeFi protocols. The return of funds provides an opportunity for the community to develop new approaches to enhancing trust and mitigating risks.
