Prisma Finance

DeFi

Base

Tornado

<ul>
 <li>The hacker accuses the Prisma team of ignoring the error in an on-chain communication.</li>
 <li>The attack was described as a lack of input validation on a specific smart contract function.</li>
</ul>
An individual or group claiming to be a “white-hat” hacker who is interested in returning the funds into the <a href="https://prismafinance.com/" target="_blank" rel="noopener noreferrer nofollow">Prisma Finance</a> protocol, as opposed to a “black-hat” hacker who would retain the funds for themselves, was one of the wallets associated with the $11 million Prisma Finance hack that occurred on March 28.
The hacker has asked that the Prisma Finance team publicly declare themselves, apologize to users and investors, and applaud the hacker for helping them address the problem before they consider returning the monies.
<h3 class="wp-block-heading" id="h-suspicious-of-hackers-intentions">Suspicious of Hackers Intentions</h3>
Moreover, the hacker accuses the Prisma team of ignoring the error in an on-chain communication to Prisma finance, and asserts that the press conference would serve as a message to the whole decentralized financial (<a href="https://www.investopedia.com/decentralized-finance-defi-5113835#:~:text=Decentralized%20finance%2C%20or%20DeFi%2C%20uses,transact%20financially%20with%20each%20other." target="_blank" rel="noopener noreferrer nofollow">DeFi</a>) sector.
The hacker wrote in an on-chain message:
<blockquote class="wp-block-quote">
 “I hope this would help ppl be more careful participating in defi, the teams would be more responsible, and everyone would change their minds about things like this.”
</blockquote>
Hacked protocols sometimes negotiate with their attackers and manage to recoup payments. Many Prisma Finance customers are suspicious of the hacker’s intentions due to their strange requests and the fact that they transferred over $2.5 million worth of <a href="https://thenewscrypto.com/ethereum-eth-to-likely-consolidate-before-reaching-4000/" target="_blank" rel="noopener noreferrer nofollow">ETH</a> to <a href="https://thenewscrypto.com/lazarus-group-moves-12m-in-ether-through-tornado-cash/" target="_blank" rel="noopener noreferrer nofollow">Tornado Cash</a>.
The hacker added:
<blockquote class="wp-block-quote">
 “After it happens, the amount I would keep, and the amount that I can send to you would be discussed (stay assured, most of it would be returned),” the hacker concluded.
</blockquote>
Furthermore, the attack was described as a lack of input validation on a specific smart contract function, and Prisma Finance has halted the protocol and released a post-mortem on the issue.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/base-hits-record-transaction-volumes-in-march-defi-activity-surges/" target="_blank" rel="noopener noreferrer nofollow">Base Hits Record Transaction Volumes in March, DeFi Activity Surges</a>

Hacker Seeks Public Apology from Prisma Finance Amid $11M Hack

Table of Contents

TheNewsCrypto

Other articles published on Mar 31, 2024

3 Most Important AI Trends To Look Out For

Bitcoin Miners Send Gear Abroad Pre-Halving, Akash Competitor Garners Significant Investor Attention

BASE Party Poised to Become the Leading Meme Coin on BASE Chain

Roman Storm Seeks Dismissal of Charges in High-Stakes Tornado Cash Crypto-Laundering Case

FTX Bankruptcy: Timeline For Creditor Repayment Revealed

BTC/S&P 500 Correlation: What Stock Market Can Tell Us About Bitcoin Price

Join our free newsletter for daily crypto updates!