HomeWorld NewsHacker Steals $29M From Transit Finance, Returns $19M

Hacker Steals $29M From Transit Finance, Returns $19M

  • October 4, 2022
  • Posted by: Bastion team
  • Category: World News
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Blockchain & Cryptocurrency
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Cryptocurrency Fraud
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Fraud Management & Cybercrime

Thief Retains $2M as ‘Bug Bounty,’ Loses $1M to Bot Attack

Rashmi Ramesh (rashmiramesh_) •
October 3, 2022    

A hacker stole $28.9 million by exploiting a bug in decentralized exchange aggregator Transit Finance on Sunday. Within two days of the theft, the thief returned nearly $18.9 million, keeping a $2 million “bug bounty.”

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The company halted its cross-chain digital asset swapping services and suspended the faulty contract but has not yet issued a fix for the bug.

Transit Finance’s internal security team and blockchain security firms PeckShield, SlowMist, Bitrace and TokenPocket helped uncover the attacker’s IP, email and associated…

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