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Hacker Tries to Play Nice: Loopscale Strikes Deal for Stolen Funds

BBG News

In what could be described as the most peculiar of courtroom dramas (minus the courtroom, and, well, the drama), the decentralized finance (DeFi) protocol Loopscale has confirmed that talks are in progress with the rather audacious hacker who managed to make off with a whopping $5.8 million last week. Yes, you read that correctly – $5.8 million. And no, it wasn’t in a suitcase, but in a series of digital assets that vanished quicker than a good soufflé under a jealous cook’s gaze. Both parties, in their infinite wisdom, are negotiating a settlement that would involve the return of the stolen funds in exchange for a rather princely bounty. Oh, and possibly a handshake over a cup of virtual tea. 😎

The Hack: An Event So Swift, You’d Think It Was a Ninja Move

A Bargaining Genius in Action

As expected, the hacker responded with all the subtlety of a cat deciding it doesn’t like the new brand of kibble. Through an Etherscan message that could only be described as ‘businesslike,’ the hacker replied,

“We are agreeable to collaborating with you to reach a white hat agreement. However, we would like to negotiate the bounty percentage; our expectation is 20%.”

Ah, the old ‘let’s raise the stakes’ move. Quite the negotiator, this one. But in an interesting twist that would make any spy thriller jealous, the hacker returned 5,000 wrapped Solana (wSOL) tokens shortly thereafter. A little token of goodwill, perhaps? Or maybe just a warm-up for the grand return of the entire fortune. Who can say? 🤔

Loopscale, ever the magnanimous host, accepted this gesture with a certain grace, acknowledging that the hacker seemed to be open to a resolution. The stolen funds are, of course, still mostly in the wind, but with both parties locked in a digital dance, they are working toward a mutually agreeable settlement. The finer details of the bounty, which could very well end up being 20% instead of the original 10%, are still being hammered out. Negotiations are ongoing, though, and there are likely more twists to come, like a gripping season finale. 🍿

The Future: Updates and a Lesson in Security

In their infinite wisdom, Loopscale has promised to keep users updated on this riveting saga as negotiations progress. As a final act of transparency, the company has vowed to release a full report outlining how the exploit occurred, along with the corrective measures they’re putting in place. Spoiler alert: It involved some trickery with the RateX PT token pricing mechanism, but thankfully, the RateX collateral system is still intact. No further surprises there!

Until then, vault withdrawals remain suspended – so no one’s getting their hands on that loot just yet. But rest assured, Loopscale is taking the whole security thing rather seriously now, vowing to tighten things up and prevent similar incidents from occurring in the future. Sounds like a good plan, right? After all, who wants to keep getting outwitted by a hacker who knows how to negotiate better than most lawyers? 🧐

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2025-04-29 18:07

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