SNEAK PEEK
- An anonymous hacker exploited the Sentiment protocol to extract funds from the DeFi platform Sentiment.
- The hacker manipulated the pricing of an oracle for a Balancer LP token to borrow against the maliciously inflated asset price.
- Following successful negotiations, the hacker returned 100% of the stolen assets to the Sentiment Deployer on the ETH mainnet.
Recent reports state that the anonymous hacker, who exploited the DeFi platform Sentiment, has returned all of the stolen assets to the platform. The cybercriminal has returned 100% of the stolen assets, as per the reports.
100% of user funds have been successfully recovered. The post below explains a detailed remediation plan for making Sentiment users whole.
Special thanks to @wintermute_t for their help in this process. https://t.co/Oyk17MyMrZ
— Sentiment (@sentimentxyz) April 7, 2023
The hacker converted all of the stolen funds to ETH and then transferred them through multiple bridges from Arbitrum to the Ethereum mainnet after successfully exploiting the DeFi platform Sentiment.
Following successful negotiations, the exploiter returned the funds to the Sentiment Deployer on the ETH mainnet. These funds were then sent to a multisig where they are currently located, as seen here at the time of this writing.
According to reports, the exploiter was able to manipulate the pricing of an oracle for a Balancer LP token, using this to exploit the Sentiment protocol. This allowed them to borrow against the maliciously inflated asset price, resulting in the extraction of funds from Sentiment. Ultimately, this left their Sentiment account with bad debt totaling around $1,092,191.98 at the time of the exploit.
The exploitation of the Sentiment protocol highlights the vulnerability of DeFi platforms to cyber attacks. However, the successful recovery of the stolen funds after negotiations between the Sentiment team and the anonymous hacker is a positive development.
This underscores the importance of strong security measures and the prompt resolution of any issues that arise. While it is unclear if any legal action will be taken against the hacker, the return of the stolen funds is a promising outcome for the future of the DeFi industry.
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- Source: https://investorbites.com/successful-recovery-sentiment-defi-platform-retrieves-100-of-stolen-assets/
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