Hacker returns 70% of the $23 million in funds that were stolen from Transit Swap

According to Transit Swap, the hacker has returned 70% of the money that was taken. This comes after crypto auditor SlowMist said that the cross-chain decentralized exchange or DEX aggregator Transit Swap was abused, costing $23 million in lost funds.

Transit Swap claims it is gathering information to create a refund strategy and has not yet returned users’ money.

On October 2, SlowMist reported a theft of $1.07 million BUSD on Twitter. In a later blog post, it revised the total amount of stolen money to US$23 million.

Transit Swap claimed it had the exploiter’s IP address and email address and was actively contacting them before the hacker issued the refund.

In addition, the Transit Swap said that they are still attempting to recoup the final 30% of the funds.

According to Chainalysis, a blockchain analytics company, as of August 2022, US$2 billion in cryptocurrency, or 69% of the total amount stolen, had been siphoned off from cross-chain bridges.