Hacked Funds Have Been Returned By Defrost Finance
Why Defrost Finance Returned The Hacked Funds?
On Sunday, Defrost finance said that the exploited products V1 and V2 have returned the funds which are being attacked by the hacker in the larger V1 attack. They will soon scan the on-chain data to find out who owned and what before the hack has become to return them to the rightful owners. There is a tweet updated on Dec 25 and in this the team has said that the first attack has used a flash loan to drain out all funds of V2 Products and the second attack has used the owner key to exploit V1. The Protocols which offer Leverage trading on the Avalanche blockchain have not said any word about how much it had been taken.
The blockchain security firm Peck Shield said that by the time the exploit has made rug pull and that is made of $ 1.2 million. The earlier security company Certik has said that they are unable to connect to the team members and the posted graphic indicate that they were treating Defrost as an existing scam. The Twitter account of Defrost is not configured to accept private messages.
Defrost Finance however announced the attack and said in a tweet that they are willing to negotiate with the people responsible for the return of the funds. As in various variable proportions of assets and debts, this protocol might take a little time and the decentralized protocol is linked on its website.
Defrost finance in the past was very badly abused and it is about the price oracle which is employed with the addition of fake collateral tokens to liquidate existing users and this damage cost was more than $13 million. The Defrost finance team was opened to discuss 20% of the funds shared with the hackers in the majority of the assets. The stolen assets will be restored to the Platform.
According to the Defrost finance statement, a decentralized Protocol was leveraged on Avalanche. The impact is that the users will be able to recover all the funds in a short period and all the valuables will be back on track promptly and the work will be back on track as earlier it was running smoothly and in a proper way working Policy.
