Hacker Demands Apology from Prisma Finance

Hacker Demands Apology from Prisma Finance

Hacker Demands Apology from Prisma Finance

A hacker breached Prisma Finance, stealing around $11M and demanded a live online conference where Prisma Finance must admit their security mistake.

The hacker responsible for the recent breach at Prisma Finance has presented a unique list of demands. The hacker has requested a live online conference due to an exploit that led to the theft of around $11 million (3,257 ETH) from the decentralized protocol.

In addition, the demand stipulates that the Prisma Finance team must publicly acknowledge that they have made a security mistake and express their regret to both the users and the investors.

The hacker’s use of Tornado Cash to move a portion of the stolen funds is typically considered a feature of hostile attacks; nonetheless, the hacker describes this activity as a “whitehat rescue.”

Prisma Finance Hack By Attacker

This unexpected gesture occurred after the hacker successfully moved some of the stolen assets. The blockchain security company PeckShield distributed the initial report on suspicious activity on the blockchain following an attack on Prisma Finance at the beginning of this week.

The attacker used a malicious contract targeting specific vaults to carry out their attack, prompting a swift response from the platform.

As a result, Prisma Finance halted its DeFi protocol, utilizing an emergency multisignature to ensure the safety of the left. Despite this, the protocol’s locked-up value decreased by almost half, reaching approximately $115 million, further undermining investors’ confidence.

However, the aftermath of the exploitation is full of issues and lack of faith. This is primarily because the hacker laundered enormous quantities of money in Tornado Cash.

As a consequence of this, the activities of the hacker are claimed to have had factors that call into doubt the true nature of their goals within the cryptocurrency community, even though they were first portrayed as a rescue.

Because it has been exposed to many happenings over the previous year, the DeFi sector is already wary, and it is keeping a close eye on the emerging series of occurrences.

According to the most recent information, the live price of Prisma Finance has had a significant drop, which indicates that investor mood is currently experiencing stress.

Because the total amount locked has decreased, the investigation is still ongoing, and the hacker has recently made transactions, the stability and future of the platform have become a matter of concern.

This event, along with others that have occurred in the area, is part of the larger conversation that is taking place regarding the necessity of improved security measures in the DeFi system

Read Previous

Bitcoin Hodlers May Match Medallion Fund’s 38% IRR

Read Next

Sphere 3D Faces Legal Escalation as Gryphon Blocks $10M