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- THORSwap offers bounty to hacker for returning stolen funds.
- Personal wallet hack targets THORChain’s founder, John-Paul Thorbjornsen.
- THORSwap seeks a deal with hacker to recover $1.35M.
THORSwap, a decentralized exchange aggregator for THORChain, is actively reaching out to the hacker responsible for exploiting a personal wallet. It is thought to be an attack on the personal wallet of the founder of THORChain, John-Paul Thorbjornsen. On-chain data indicate that THORSwap has issued numerous bounty deals to the hacker, the deals being designed to avoid legal action should the stolen money be returned within 72 hours. The hacker is encouraged to contact THORSwap through the official Discord or by email to negotiate a possible deal.
Blockchain security firm PeckShield was first reporting their concern, purporting that THORChain had been exploited to an estimated value of one point two million dollars. However, the THORChain team was quick to disclose that the protocol was not breached. Instead, it was an assault on the personal wallet of one individual who was found to be Thorbjornsen. Paper X, the CEO of THORSwap, confirmed that the bounty rewards were only by way of recovering the stolen assets and not by way of compromise at THORSwap or the protocol.
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Details of the Attack and the Stolen Funds
This intrusion is suspected to have started with a phishing attack, in which Thorbjornsen was deceived into providing sensitive information by a fake Zoom meeting invitation. This invitation was written by a tampered Telegram account of one of his friends. Although Thorbjornsen has ceased to use his MetaMask wallet, which has been thought to be a safe product, there is a possibility that the attackers accessed his iCloud Keychain or Chrome profile because he had previously logged out.
The stolen amount is approximately $1.35 million in Kyber Network tokens, approximately $1.03 million, and in THORSwap tokens, roughly $320,000. On-chain research suggests that these assets were moved to an address associated with exploiter six and further traded to ETH, and the money is currently stored in an account starting with the 0x prefix.
THORSwap’s Continued Outreach Efforts
Surprisingly, THORSwap has also continued with its outreach to find a solution to the situation beyond the court. This is a peculiar method, particularly with blockchain-related offenses, in which justice is more often obtained in court. THORSwap wants to resolve the issue in a more timely and friendly manner by providing the hacker with an opportunity to pay back the money without prosecution. Nonetheless, Thorbjornsen has cast doubt on this, stating that even the safest wallets and measures may be compromised, as seen in the hack.
The event is a vivid example of how dangerous the cryptocurrency sphere may be. Despite having sophisticated security systems such as threshold signature wallets, people can still be targeted by attackers of their personal wallets. However, as the events unfold, the community is optimistic that the stolen funds will be given back and that the hacker will consider the offer of THORSwap seriously.
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