The decentralized finance protocol was recently exploited for a hefty amount of crypto that will supposedly go to charity.
With malicious activities surrounding the cryptocurrency market, it is less than usual for hackers to return stolen funds, or donate them to noble causes. Be that as it may, one hacker will seemingly be giving out the spoils of the hack to charity.
According to a user on Twitter, the DeFi platform Cashio has suffered from a huge exploit, draining $52.8 million worth of crypto from the protocol.
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In a nutshell, the hack went down due to Cashio having a flawed "root of trust" protocol that the hacker abused just by creating fake accounts on it. This allowed him to drain Cashio of over $50M in the platform’s native token CASH.
Later on, he swapped the tokens for USDC, USDT, and UST stablecoins, which brought the price of $CASH to 0, and the token was quickly unlisted from major coin price tracking platforms like CoinMarketCap.
However, after the hack was being reviewed by Bybit, experts noticed an interesting message left in one of the transactions, which reads:
"Account with less 100k have been returned. All other money will be donated to charity."
Interestingly enough, according to the report by Bybit, the accounts that had a balance with less than $100k worth of crypto were actually reimbursed by the hacker.
The hack left the investigation team of Bybit baffled, and it is rather uncertain whether the hacker will actually donate the remaining funds to charity.
This has been one of the largest exploits of a DeFi protocol this month. Back in February, the Wormhole bridge, which links several blockchains including Solana and Ethereum, was exploited for 120K wETH, worth approximately $321M.