Transit Swap Recovers 70% of Stolen Funds

Transit Swap managed to recover 70 percent of the stolen funds not long after yesterday’s attack.

Yesterday, the 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.

Transit Swap Saved 70 Percent Of Its Fund

Transit Swap lost close to $23 million in funding after a hacker exploited an internal 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.

Having managed to extract the hacker’s IP, email address and associated chain addresses, the team recovered 70 percent of the stolen assets less than 24 hours after the attack. The funds were transferred to two addresses and the amount returned is stated to be equal to 16.2 million dollars.

According to BscScan and EtherScan, these funds came in the form of 3,180 Ether (ETH) at $4.2 million, 1,500 Binance-Peg ETH at $2 million, and 50,000 BNB at $14.2 million.

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.