Defrost attacker returns stolen money amid ‘rag pull’ allegations

Defrost Finance, a decentralized leveraged trading platform that recently used it, revealed that $12 million in stolen funds were returned by a hacker, raising suspicions of rug-pulling.

defrost finance hack

Defrost Finance Experience A flash loan attack On 23 December. Users of its v1 and v2 protocols may be worth $12 million in assets. In a quick post-mortem study, the developers claimed that the hackers were also able to steal the owner’s keys for an attack on its v1 protocol which was quite extensive. Flash loan vulnerability.

Defrost said he was willing to discuss a 20% wealth sharing in exchange for most of the assets and urged the hackers to contact him immediately.

In a blog post on his website, Decentralized Financial Systems Having said,

“In order to return items to their proper owners following the hack, we will begin analyzing data stored on-chain to determine who owned them prior to the breach. This process may take some time because Different individuals have different amounts of assets and debts.

Defrost official statement

The team also claimed that an instant loan was used in the first attack to siphon off money from its V2 product. Avalanche Blockchain’s leveraged trading protocol did not specify how much money was taken.

However, just a day after the alleged hack, Defrost announced that one of the hackers had recovered the funds.

Is Defrost An Exit Scam?

A warning published today by blockchain security firm CertiK claims that Defrost Finance is actually an exit scam. CertiK alleged that the hackers returned the cash shortly after Defrost was announced.

Blockchain analytics company Peckshield issued a warning shortly after the exploit, calling the action a “rag pull”.


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