{"id":265444,"date":"2022-10-03T12:30:34","date_gmt":"2022-10-03T11:30:34","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=265444"},"modified":"2022-10-03T12:43:10","modified_gmt":"2022-10-03T11:43:10","slug":"transit-swap-hacker-returns-16-5m-of-stolen-funds","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/transit-swap-hacker-returns-16-5m-of-stolen-funds\/","title":{"rendered":"Transit Swap hacker returns $16.5M of stolen funds"},"content":{"rendered":"

Cross-chain DEX aggregator Transit Swap<\/a> had a rough weekend after it lost over $21 million of users' funds to a vulnerability attack.<\/p>\n

An unknown hacker launched an attack against TransitSwap's unverified smart contract on Oct. 1.<\/a> Users who unknowingly approved their tokens for trading on Transit Swap had all their funds transferred directly to the hacker's address.<\/p>\n

Transit Swap users lost a cumulative $21 million to the vulnerability exploit across the ETH and BSC chain. The hacker lost about $1 million<\/a> to an arbitrage bot as he moved the stolen funds.<\/p>\n

Blockchain security firms SlowMist,<\/a> PeckShield,<\/a> and Bitrace<\/a>, worked closely with the Transit Swap team to track the hacker's IP, email address, and associated on-chain address. Their joint efforts saw the hacker return over 70% of the stolen funds.<\/p>\n

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\ud83d\udce2\ud83d\udce2\ud83d\udce2Updates about TransitFinance
1\/5 We are here to update the latest news about TransitFinance Hacking Event. With the joint efforts of all parties, the hacker has returned about 70% of the stolen assets to the following two addresses:<\/p>\n

— Transit Swap | Transit Buy | NFT (@TransitFinance) October 2, 2022<\/a><\/p><\/blockquote>\n