Multi-chain token bridge Allbridge, which was recently hacked by crypto, is starting to refund stuck bridge users.
In the past days, Allbridge was hacked, resulting in a commercial loss of $537,000 within the company. As of April 4, it was stated that the crypto attacker accepted the “White Hat Award” offer and reached an agreement with Allbridge. It was also reported that the majority of the approximately $573,000 stolen from Allbridge began to be refunded after the hacker accepted the “White Hat Reward” offer. By sharing information about the compensation process, it is planned to issue refunds from next week for users who have money left on the bridge “shortly before the shutdown”.
We are committed to compensating our users affected by the exploit and are prepared to reveal our recovery plan.
Please check the latest announcement for details: https://t.co/h17VDKZ7H7
— Allbridge (@Allbridge_io) April 4, 2023
Announcement for Users from Allbridge
Allbridge, which will begin to pay back the stuck bridge users first after the funds are cleared, touched on the details on the subject. Users with funds held captive in the multi-chain token bridge provided by Allbridge are in the first place to receive compensation under a recovery plan released by the project following a recent exploit.
In a statement released on April 5, Allbridge stated that although it only “partially recovered funds” after being hacked for approximately $573,000 on April 1, it has already initiated a compensation process for users.
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