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Hacker returns stolen $1.59m crypto funds to Tender.fi

TL;DR Breakdown

A hacker responsible for exploiting Tender.fi for $1.59 million in crypto assets has returned the funds.
The attack occurred earlier today when the hacker took advantage of a misconfigured data oracle.

In an unexpected move, a hacker responsible for exploiting Tender.fi—an Arbitrum-based lending platform— for $1.59 million in crypto assets has returned the funds, according to on-chain data. The attack occurred earlier today when the hacker took advantage of a misconfigured data oracle that enabled them to borrow substantial sums with a single GMX token worth $70 as collateral. The costly mistake was quickly identified by security firms PeckShield and BlockSec, who determined that the unusual loan was possible due to a misconfigured oracle used by Tender.fi.

At 1:30 PM EST, the parties involved in the hacking of Tender.fi reached a negotiated resolution, with the hacker agreeing to pay back all loans in exchange for a bounty reward of 62 ETH ($96,500). Following this agreement, Tender.fi issued a statement confirming that all funds had been recovered and that they would provide a post-mortem report on the incident.

“The hacker has completed the loan repayments. Funds are officially SaFu, post mortem on the way.”
Tender.fi’s Team

We have come to an agreement with the White Hat, an on chain transaction was sent with an attached message that contains the terms of this agreement. https://t.co/9a5IsgID0Q
— Tender.fi (@tender_fi) March 7, 2023

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.