Hacked Chinese DeFi successfully returns funds to users

Popular Chinese DeFi, dForce, which recently became a victim of a hacking attack, announced the news that its customers were glad to hear. The project revealed that it already returned over 90% of stolen assets. The affected users received their funds back within only 24 hours.

The situation with the hacked DeFi sees a resolution

As many may remember, an unknown individual recently exploited Chinese DeFi. The hacker targeted the project's lending solution, called Lendf.Me. By doing so, they managed to steal nearly $25 million from the DeFi, and leave only $10,000 behind.

However, it was not long before the hacker simply returned the funds, which is not how these things usually go. The situation was soon clarified, however.

It turned out that the attacker sent back a portion of the stolen money — $125,000 in PAX tokens — to the dForce admin. Not only that, but they also added a note, saying simply 'Better future.'

After this, an entire series of transaction-based message exchanges followed. Lendf.me responded to the initial message by sending an email address, hoping that the hacker would establish contact.

In the end, the hacker sent nearly all the money that they originally stole. dForce's founder, Mindao Yang, commented by saying that “recaptured through the efforts collaboratively made by our partners, law enforcement, investors, the community, and our team members.”

dForce returns the funds to users and strengthens its security

The project then finally reported yesterday that most of the funds were sent back to the users. Around 90% of them are back to the proper accounts, distributed over the previous 24 hours. “Over 90% of assets have been distributed to users in less than 24 hours. 100% of users have been made whole in the recovery. We will disclose more future actions shortly. Stay tuned,” the announcement said.

In his blog post, Yang also addressed some new measures taken to prevent future attacks, and fight the consequences of this one. One of them is employing security consultants who would audit and improve the project's security practices. Another measure will see that the current Lendf.Me smart contracts remain disabled.