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International Business Times
International Business Times
Business
Marvie Basilan

REVEALED: Seneca protocol hacker returns over 5m worth eth from 6 4m breach - The Real Truth

A hacker stole millions worth of Ether on stablecoin protocol Seneca, but has since returned some 80% of the pilfered funds. (Credit: Bybit/flickr.com)

KEY POINTS

  • Crypto security firms alerted the community of a Seneca exploit Wednesday
  • Seneca acknowledged there was an "approval bug" on the stablecoin protocol
  • The protocol asked its exploiter to return the funds and keep 20% "as per whitehat efforts"
  • The hacker returned more than 1,500 ETH worth around $5.3 million Thursday, as per PeckShield

A hacker who gained access to around $6.4 million worth of Ether (ETH) in an exploit of stablecoin protocol Seneca has returned over $5 million after apparently accepting an offer to keep 20% of the stolen funds.

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