Blockchain Global News

Allbridge exploiter returns most of the $573K stolen in attack

An exploit resulted in around $573,000 in crypto looted from Allbridge, but the hacker has now seemingly accepted the offer of a “white hat bounty.”

A large portion of the roughly $573,000 pilfered from the multichain token bridge Allbridge has been returned after the exploiter seemingly took up the project’s offer for a white hat bounty and no legal retaliation. 

Allbridge tweeted on April 3 that it received a message from an individual and 1,500 BNB BNB $310, worth around $465,000, was returned to the project.

“The remaining funds will be considered a white hat bounty to this person,” Allbridge said.

It explained that all the “received BNB” was then converted to the stablecoin Binance USD BUSD $1.00 to be used as compensation.

Blockchain security firm Peckshield first identified the attack carried out on April 1, warning Allbridge in a tweet that its BNB Chain pools swap price was being manipulated by an individual acting as a liquidity provider and swapper.


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Following the exploit Allbridge offered the attacker a bounty and the chance to escape any legal ramifications.

Allbridge has yet to publicly disclose how much was stolen, but blockchain security firm CertiK said the sum is close to $550,000, while PeckSheild said the exploit netted $282,889 in BUSD and $290,868 worth of Tether USDT $1.00, totaling roughly $573,000.

Allbridge also revealed that a second address used the same exploit and shared a link to a wallet that currently contains 0.97 BNB, valued at around $300.

“We ask the second exploiter to reach out and discuss the return,” Allbridge said.

Following the initial exploit, Allbridge made it clear it was hot on the trail of the stolen funds and was working with a wide variety of organizations to retrieve the stolen loot.

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BNB Chain was among those who answered the call to arms, reportingin an April 2 tweet that it discovered at least one of the culprits involved through on-chain analysis.

According to BNB Chain, it’s “actively supporting the Allbridge team on the fund recovery” and gave a shout-out to AvengerDAO for its efforts in the recovery.

Cointelegraph contacted Allbridge for further comment but did not receive an immediate response.

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Source : Cointelegraph.com