Thala Labs: Recovery of Stolen $25.5 Million After Attack

by Giorgi Kostiuk

2 years ago

On Nov. 15, 2024, Thala Labs, a DeFi protocol on the Aptos blockchain, faced a significant hack. The attack allowed the hacker to withdraw $25.5 million in liquidity pool tokens.

The Attack and Immediate Actions

In response to the attack, Thala's team paused all relevant contracts and froze approximately $11.5 million in related assets, including $9 million in Move Dollars (MOD) and $2.5 million in THL tokens. Thala Labs stated that affected users do not need to take any action, as all positions will be restored to their full value.

We are relieved to announce that affected users require no further action, and their positions will be made 100% whole.Thala Labs

Recovery Process and Negotiation

With the help of Seal 911 and Ogle, two crypto-focused theft recovery organizations, Thala was able to quickly identify the hacker. The hacker willingly contacted them to negotiate the return of the stolen funds, and was offered a $300,000 bounty in exchange. The stolen funds were returned just hours after the exploit.

What is Thala Labs?

Thala Labs offers automated market-making and a yield-bearing stablecoin, Move Dollar (MOD), within the Aptos ecosystem. The protocol recently launched ThalaSwap V2, but the breach was attributed to a vulnerability within the older v1 contracts.

The Thala Labs hack showcases ongoing security challenges in the crypto industry. Despite a decrease in losses compared to earlier in the year, such incidents remain a significant risk for decentralized protocols.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

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.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Bitwise Asset Management Raises Bitcoin Price Projection to $1.6 Million by 2036

Bitwise Asset Management has raised its long-range Bitcoin price projection to $1.6 million by 2036, reflecting significant growth expectations based on anticipated institutional allocations and demand for scarce assets.

Filippo Romano7 minutes ago

Movantis Integrates Stellar for Enhanced Cross-Border Payments

Movantis and the Stellar Development Foundation announced on October 29 that Stellar will become a settlement option in Movantis' multirail payment network, focusing initially on USDC settlements for transfers from the US to El Salvador.

Emily Carteran hour ago

Pontoro and Archax Introduce Automated Liquidity Pool on Stellar

Pontoro and Archax have launched an Automated Liquidity Pool on the Stellar network during Meridian 2026, combining liquid money market assets with private market fund exposure.

Tomas Novak2 hours ago

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.

Maya Lundqvist3 hours ago

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.