Cryptocurrency 44 minutes ago (Dec 26, 2022 11:20AM ET)

Defrost v1 hacker reportedly returns funds as ‘exit scam’ allegations surface

On Dec. 26, blockchain security firm CertiK issued a warning alleging that Defrost Finance, a decentralized leverage-trading platform on the blockchain that recently suffered an exploit, is an “exit scam.” The move came just as Defrost announced that “the hacker involved in the V1 hack [but not the v2 hack] has returned the funds.” CertiK wrote:

On Dec. 23, Defrost Finance suffered a flash loan attack that drained protocol users of $12 million in assets on its v1 and v2 protocols. Immediately after the exploit, blockchain analytics firm PeckShield also issued a warning, alleging the operation was a “rugpull”:

CertiK’s Skynet alert for Defrost. Source: CertiK

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