Shocking $2.6 Million Transfer to TornadoCash by Prisma Finance Hacker
The recent transfer of $2.6 million to TornadoCash by the Prisma Finance hacker has rattled the DeFi community. This significant movement comes in the midst of unfolding events following the exploit that rocked Prisma Finance. The platform was targeted by an exploit that focused on individual vaults, leading to an immediate response from the platform. Blockchain security firm PeckShield flagged suspicious on-chain activity on March 28, revealing that a total of $11.6 million, equivalent to about 3,257 ETH, was drained from the platform.
β Prisma Protocol paused by the emergency multisig for safety of funds
β Stablecoins like mkUSD and ULTRA remained secure and overcollateralized
β Total value locked dropped from $220 million to $115 million after attack
Assertion of βWhitehat Rescueβ and Recent Transactions
The individual responsible for the Prisma Finance breach has proposed it was a βwhitehat rescueβ and has expressed intentions to return the funds. Messages on the blockchain have emerged, providing some evidence in support of this assertion. Despite these claims, doubt still lingers, with many questioning the validity of the so-called rescue.
β Recent actions of the hacker analyzed by PeckSheildAlert
β Significant transfers made by the hacker to different addresses
β Ongoing investigation and doubts regarding the hackerβs true motives
Present Situation and Evaluation
Currently, Prisma Financeβs live price is $0.267253, with a 24-hour trading volume of $8.47 million USD. However, the platform has witnessed a notable decline of -24.20% in the last 24 hours, indicating the impact of recent events on investor confidence. The hackerβs movements have left a cloud of uncertainty hovering over Prisma Finance and its community.
β Live price of Prisma Finance at $0.267253, 24-hour trading volume of $8.47M USD
β -24.20% decrease in last 24 hours reflects impact on investor sentiment
β Concerns raised about platformβs security and stability amidst ongoing investigation
Hot Take: Insights and Caution for Crypto Investors
As a cryptocurrency enthusiast or investor in the DeFi space, it is crucial to stay informed about emerging developments in the industry. The recent exploit on Prisma Finance serves as a stark reminder of the risks associated with decentralized platforms. While the claim of a βwhitehat rescueβ may offer a glimmer of hope, skepticism is warranted until further evidence is provided.
Sources:
β https://x.com/peckshieldalert/status/1773348477398900804
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