Over the years, crypto hacks have become more elaborate and common. In 2024, the community has seen hundreds of millions swept away from exploits and scams, leaving investors empty-handed.
Sometimes, the exploiters return the funds and point out a project’s vulnerabilities, helping prevent future incidents. However, it’s more common to see hackers take the stolen funds and flee the scene.
Crypto investigator ZachXBT unveiled a chain of exploits seemingly connected to the self-called Whitehat hacker responsible for the Prisma Finance exploit that took $12 million last month.
Stained Whitehat Hacker
On March 28, Prisma Finance, the Ethereum-based decentralized lending protocol, suffered a hack that stole 3,479.24 ETH. After being warned and observing the suspicious activity, Prisma’s team alerted the community.
At the time, the hacker contacted the Prisma team through an on-chain message, declaring to be a “Whitehat” looking out for users. During their conversation, the exploiter claimed they wanted to “raise better awareness on serious contract audits” and the use of DeFi.
The following day, the lending protocol released a detailed post-mortem of the incident. This post seemingly ruffled the hacker’s feathers, as they demanded that the team change all the “accusatory terms” like ‘exploit’ and ‘hacker.’
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