DeFi Platform Hacker Tries To Negotiate After Purportedly Divulging His Identity

The hacker behind the recent embezzlement of twenty-five million USD from DeFi platform Lendf.me has divulged vital data about himself, and is already gesticulating for peace.

The mushrooming DeFi space suffered yet another occurrence on 19th April as Chinese lending platform Lendf.me got exhausted of nearly all of its funds.

It is to be noted that the aforementioned hack is shaping up to be unlike others, as the hacker appears to be discussing terms with the protocol founders.

According to crypto media reports, the hack took place on 19th April. The hacker took advantage of a well-known susceptibility in the expanded ERC-777 token standard.

The hacker used the imBTC coin as the Trojan horse of the bout. The hack took advantage of this by merging it with a critical bug in Lendf.me’s contracts and how they updated the balance of the users on the platform.

Lastly, he used the bogus balance as collateral to borrow nearly every single cryptocurrency existing on the Lendf.me platform, carrying off about twenty-five million USD in various virtual assets and stablecoins.