The founder of the recent -hack -hacked decentralized financial protocol Sir.Trading made an emotional plea to the attacking, asking them to return to around 70% of stolen customer funds otherwise, the protocol would not survive.
“Here’s my proposal, keep $ 100k as a fair part for your critical search, and restore the remaining,” pseudonymous founder of Sir.Trading “Xatarrer” write In a March 31’s message onchain to the attack following the $ 355,000 hack on March 30.
“We will call it though. There are no legal games, no drama,” they added.
Xatarrer said Sir.Trading was built behind four years of late-night cods and $ 70,000 from friends and believers without additional venture capital funds.
“We grew up with $ 400k TVL organic without any advertising. If you keep 100% of funds, there’s no chance we can live.”
Xatarrer even praised The hacker for sophisticated hack, saying it is “almost nice if not for all the funds that people have lost.”
Source: Sir.Trading
The Hacker did not respond and the stolen funds have moved up to the Ethereum Privacy Solution Railgun, According to In data from Ethereum Block Explorer Ethercan.
Xatarrer first said on March 30 that the Sir.Trading team was allocated to keep the protocol and running despite caution. “We have begun planning our next steps. Those affected by the hack will be unforgettable,” it Says On March 31.
Hack results from feature added to Ethereum Dencun upgrading
The hacker targets a callback function used in the protocol’s “weak contract” that uses the Ethereum storing feature.
The hacker managed to replace the real Uniswap pool address used in this callback function Through an address under the control of the hacker, which allowed them to redirect the vault funds to their address by repeating callback function calls until all the total amount of locked protocol was drained.
The shift of the storage feature is added In Ethereum in March 2024 Upgrading Dencun As a solution to offer users of lower gas fees than the gas required for regular storage.
Related: Defi Hacks Drop 40% in 2024, CEFI violations are advancing $ 694M – Hacken
Sir.Trading’s documentation It has been shown to be charged as “a new defi protocol for safer action” to meet some of the challenges that often occur in leveraged trading – such as volatility of decay and destruction risks.
It came as crypto lost to exploits and scams fell to $ 28.8m in March, blockchain security firm Certik Says In a post of March 31 x. Around $ 4.8 million were revoked from that figure after hackers involved in 1Inch Resolver incident Returned the stolen fund.
Crypto exploits and scams have one of the worst months in February, dominated by $ 1.4 billion bybit hack.
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