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<h2 id="header-0">After recovering the funds lost in a recent flash loan exploit, decentralized leverage-trading platform Defrost Finance plans to refund the funds to their rightful owners.</h2>Defrost announced in a blog post that it will shortly refund the assets to their rightful holders and will follow a specific process. The procedure entails converting all Ether to stablecoins such as Dai at the on-chain market pricing. Then, all stablecoins from the <a href="https://www.coingabbar.com/en/crypto-blogs-details/ethereum-a-brief-analysis-of-the-upcoming-update" rel="noopener noreferrer nofollow">Ethereum blockchain</a> will be moved to Avalanche.Aside from this, the team will review on-chain data to determine &#34;who owned what&#34; before the attack. After performing the scan, the Defrost team stated that the data would be made available to the public.After everything is finalized, the team will release a smart contract that will allow users to retrieve the assets that have already been converted into stablecoins and return them to their original wallet addresses.Meanwhile, following the exploit, security firms said that the project may have stolen customer funds. CertiK, a blockchain security firm, described the current attack as an &#34;exit scam&#34; and stated that they sought to contact the team but received no response. PeckShield, a blockchain analytics firm, issued a warning to the community as well, labeling the initiative as a &#34;rug pull&#34; and estimated losses of roughly $12 million.On December 21, decentralized exchange Raydium also revealed specifics of its planned compensation plan for victims of a recent hack caused by a flaw in the platform&#39;s code. According to its team, the hackers were able to escape with $2 million in <a href="https://www.coingabbar.com/en/cryptocurrency" rel="noopener noreferrer nofollow">digital assets</a> as a result of the attack.On the same day, Ankr protocol was able to establish the details of the exploit that resulted in a $5 million loss on the platform. According to the team, their developer key had a point of failure. As a result, the team will develop multi-sig authentication, which will necessitate signatures from key custodians.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news/btc-mining-pool-btc-com-reports-3-million-dollar-hack" rel="noopener noreferrer nofollow">BTC Mining Pool BTC.com Reports $3 Million Hack</a>

Defrost Finance Plans to Reimburse Users After $12M Hack

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