A decentralized chain cryptocurrency Exchange (DEX) Transit Swap has recovered 70% of the funds stolen from a hacker who exploited the smart contract vulnerability.
“A Significant Part of Cryptocurrency Exchange Assets Can Be Recovered After Hacker’s IP Address Has Been Detected”
In a blog post published Monday, Transit Swap said that $18.9 million was returned after a number of security firms helped identify the hacker’s IP address.
Last Friday, a hacker said that Transit Swap is usually altcoins had taken advantage of a flaw in the swap agreement, which made it easier to trade.
Multi-chain DEX said in a statement on Twitter that the hack occurred after an attack on a bug in its code, and this bug was detected through self-review.
Working with SlowMist, Bitrace, PeckShield, and TokenPocket, the firm confirmed that it has obtained relevant data, including factual information about the hacker.
The Transit Swap hack is the latest in many decentralized finance-related vulnerabilities this year. In September, $160 million was stolen from the DeFi business of leading cryptocurrency market maker Wintermute, while Curve Finance lost $570,000 in a hack in August.
Transit Swap used the following statements in its latest statement on Twitter:
“Currently, security companies and project teams from all parties still continue to track the hack incident and communicate with the hacker via email and on-chain methods.
The team will continue to work hard to recover more assets.”
*Not investment advice.
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