Transit Swap DEX’s Hacker Ends Up Returning $21 Million, Approximately 70% Of It

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Last Updated on October 3, 2022 by Bitfinsider

Hacker took $21 million from DEX Transit Swap, a Decentralized Exchange (DEX), and eventually gave back around 70% of it.

The multi-chain DEX announced earlier on Twitter that it discovered the fault in its code through a self-review, which is how it learned about the hack. According to the company’s article, it collaborated with SlowMist, Bitrace, PeckShield, and TokenPocket to gather important data, including accurate information on the hacker.

The company said: “We now have a lot of valid information such as the hacker’s IP, email address, and associated on-chain addresses. We will try our best to track the hacker and try to communicate with the hacker and help everyone recover their losses.” It was later confirmed via Twitter that 70% of the stolen assets was returned to two addresses.

Source: Twitter

The $21 million hack is likely the most well-known exploit since the $160 million hack of cryptocurrency exchange Wintermute on September 20. Hacks have risen this year and have already greatly surpassed totals from the previous year, according to crypto analytics firm Chainalysis.

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