Allbridge hacker returns $465K stolen in exploit

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Key Takeaways

  • According to Allbridge, the exploiter has returned 1,500 BNB or roughly $465,000 of the $570,000 loot.
  • Allbridge earlier had announced that it had given the exploiter a bounty to return the money without facing any legal repercussions 
  •  The returned BNB was converted to BUSD for compensation.

The hacker behind the latest Allbridge exploit has taken up the offer for white hat bounty and has returned the majority of the stolen funds. According to Allbridge, the exploiter has returned 1,500 BNB or roughly $465,000 of the $570,000 loot.

Allbridge added that the returned BNB was converted to BUSD for compensation.

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

Reportedly, the exploit occurred on April 1 on the bridge connecting EVM and non-EVM compatible blockchains. The next day, blockchain analytics firm Peckshield discovered the exploit and alerted Allbridge warning them that BNB Chain pools’ swap price was being manipulated by an individual acting as a liquidity provider and swapper.

Following this, Allbridge announced that it had given the exploiter a bounty to return the money without facing any legal repercussions. Allbridge also stated 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.

“There was a different address involved in the hack that used the same exploit technique but did not contact us…We ask the second exploiter to reach out and discuss the return.”

The value of the funds stolen is yet to be disclosed by AllBridge. However, according to PeckSheild, the exploiter drained $282,889 in BUSD and $290,868 worth of Tether. Another blockchain analytics firm, CertiK Alert, claims that 1,400 BNB from TornadoCash were delivered to Allbridge’s recovery address. 

The latest development also comes amid another DeFi platform, Euler Finance, also successfully recovering all of its stolen funds from a March 13 exploit. On March 21, Euler launched a $1 million bounty reward against the hacker, and from March 25, the hacker started returning the stolen assets in large numbers on multiple occasions.

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Saniya Raahath
Saniya Raahath

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