1inch Hacker Returns $5 Million Stolen Funds After Bug Bounty
Dispersed Exchange (DEX) Aggregator 1 inch Its smart contract was severely breached last week. However, after negotiations with the hacker, the exchange successfully recovered most of the $5 million stolen.
Despite recovery, the attack highlights what is going on Safety Internal challenges defi Ecosystem.
1 inch recovers most of its stolen funds
1 inch experienced this particular violation on March 5. Investigators attribute it to vulnerabilities in outdated versions of the platform Smart contracts. After discussion and a large amount of vulnerability bounties, the attacker returned the funds.
“After negotiations with the hacker, most of the stolen $5 million from 1 inch were returned, and the hacker took part as a vulnerability bounty,” he said. Reportciting Descurity’s autopsy report.
1 inch explained on March 7 blog The violation is caused by a flaw in the Fusion V1 parser smart contract, an outdated platform component. team Detected The incident took place on March 5 at UTC at about 6 p.m.
The attacker uses outdated logic in Fusion V1 to execute unexpected transactions.
It is worth noting that since the attack is an attack against third-party market maker TrustedVolumes, no end user is directly affected. After the breach was discovered, 1-inch quickly re-deploys its parser contract as a preventive security measure to prevent further utilization.
Autopsy according to Descurity Reportthe hacker launched an on-chain message after the attack. They requested a bounty for a loophole in exchange for returning stolen funds.
Affected Trustees Market Makernegotiated with the attacker and successfully resolved the resolution.
The resolution marks a rare example Defi vulnerability This leads to the voluntary return of stolen assets. It reflects the growing trend of moral hacking and white hat negotiations Defi Industry.
Safety remains the main challenge for 1 inch
The incident marked the second time in six months that 1 inch faced a security breach. In October 2024, the platform suffered Front-end compromise due to supply chain attack.
Furthermore, it highlights the ongoing risks encountered by the Fefi protocol. The latest hackers remind you of the need for continuous monitoring and rapid response mechanisms to protect users and assets.
Despite the recovery, the 1-inch price has risen by just 1.12% since Sunday’s meeting opened and is trading at $0.23 at the time of writing.
This event highlights the importance of continuity Smart contract audit and positive vulnerability testing. This also suggests the need for a stronger verification mechanism to prevent similar events in the future.
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