Transit Swap lost close to $23 million in funding after a hacker exploited the bug in a swap agreement on Oct. After that, they followed the attacker with a quick reaction from the Transit Finance team as well as security companies Peckshield, SlowMist, Bittrace and TokenPocket.
Decentralized exchange (DEX) Transit Swap lost nearly $23 million after the hacker attacked it using an internal bug. With the quick steps taken by several Blockchain security companies, some of the money that Transit Swap lost in the attack was able to be recovered.
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According to BscScan and EtherScan, $4.2 million of these funds came in the form of 3,180 Ethereum (ETH), $2 million in the form of 1,500 Binance-Peg ETH and $14.2 million in the form of 50,000 BNB. Transit Swap did not return the funds to users, saying it was collecting data to develop a repayment plan.
Collaborating security companies and project teams are currently tracking the hacking incident. Continuing to communicate with the hacker via email and on-chain methods, the team continues to work to recover more assets.
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