On Sunday, Crema Finance, a concentrated liquidity protocol on Solana, suffered from a flash loan exploit.
The losses amounted to 69,422.9 SOL and 6,497,738 USDC stablecoin, roughly $9 million at the time of the hack.
According to an update from Crema Finance, the attacker has returned the stolen funds following a negotiation.
Crema Finance confirmed that the hacker transferred 6,064 ETH ($7 million) and 23,967 SOL ($870,000) into the team's wallets on Solana and Ethereum in four transactions.
Per the negotiation deal, the hacker was allowed to keep 45,455 SOL ($1.65 million) as a bounty reward. The team has labeled the perpetrator as a "white hat," a term given to ethical hackers. This means it is unlikely that Crema Finance will take any legal action against the still-unknown hacker.
“After a long negotiation, the hacker agreed to take 45,455 SOL as the white hat bounty. Now we have confirmed the receipt of 6,064 ETH + 23,967.9 SOL in four transactions,” the team said.
After the hack, the team had tried to negotiate with the hacker, sending an onchain message that offered a bounty reward. The next day, it received an on-chain reply from the hacker who said: "Crema team, since you are trying to reach me to negotiate, let's chat."
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.