Cashio Hacker Sets Conditions to Return Stolen $50 Million

#Ripple #XRP

The anonymous hacker behind the theft of over $50 million from the Solana-based stablecoin protocol Cashio has set some conditions for returning the stolen funds to affected users.

• The Cashio hacker has set forth conditions for returning funds stolen from the decentralized platform. Data from Etherscan shows someone in control of the wallet linked to the exploit detailing how restitution could happen for people affected by the attack.
• The hacker gave six conditions, part of which asked affected users to state the amount to be refunded, provide their ETH address as refunds will be done in Ether. They also required users to give details about the source of their money and why they needed a refund.
• Furthermore, the perpetrator promised to refund affected liquidity providers if they can show proof of the initial amount they had. Meanwhile, the Cashio attacker said they had already refunded accounts with less than $100,000 in their wallets.
• Interestingly, the anonymous hacker stated that the purpose of the attack was to take funds from big wallet holders who did not need the money and not customers with smaller accounts.
• As previously reported by CryptoPotato a few days ago, Cashio suffered an infinite mint glitch after hackers exploited the protocol’s smart contract, causing the attacker to print an infinite amount of CASH stablecoin.
• Consequently, the value of CASH plummeted to nearly zero from $1. Meanwhile, a postmortem by decentralized exchange Saber Labs, which backed the Cashio application, revealed it is offering a bounty of $1 million worth of USDC if the attacker makes a refund.

OhNoRipple via https://www.ohnocrypto.com/ @Anthonia Isichei, @Khareem Sudlow