OP 19 November, 2024 - 03:29 AM
Thala, a decentralized finance protocol built on the Aptos blockchain, has been hacked, resulting in $25.5 million in crypto assets being withdrawn from liquidity pools. The hacker returned the stolen assets for a $300,000 reward.
Thala specialists confirmed that on November 15, the platform suffered from a vulnerability in the old v1.1 farming contracts. The exploit allowed an unknown person to withdraw $25.5 million in tokens, after which Thala suspended all affected contracts, freezing $9 million in MOD tokens and $2.5 million in THL tokens.
The platform team contacted the groups for the recovery of stolen crypto assets — SEAL 911 and Ogle Security Group. They helped identify the hacker within minutes, having learned his name and address. Thala developers managed to negotiate with the hacker to return all stolen funds minus $300,000, which he kept as a reward for finding the bug.
“There is no further action required from affected users, their funds will be 100% restored. However, all affected contracts and the Thala interface are suspended until we are sure they are completely safe,” the team behind the protocol announced.
Thala Labs provides an automated market maker and a yield-generating stablecoin for the Aptos ecosystem — Move Dollar (MOD). According to DefiLlama, the protocol ranks fourth in total value locked (TVL) among all Aptos-based DeFi protocols.
Thala specialists confirmed that on November 15, the platform suffered from a vulnerability in the old v1.1 farming contracts. The exploit allowed an unknown person to withdraw $25.5 million in tokens, after which Thala suspended all affected contracts, freezing $9 million in MOD tokens and $2.5 million in THL tokens.
The platform team contacted the groups for the recovery of stolen crypto assets — SEAL 911 and Ogle Security Group. They helped identify the hacker within minutes, having learned his name and address. Thala developers managed to negotiate with the hacker to return all stolen funds minus $300,000, which he kept as a reward for finding the bug.
“There is no further action required from affected users, their funds will be 100% restored. However, all affected contracts and the Thala interface are suspended until we are sure they are completely safe,” the team behind the protocol announced.
Thala Labs provides an automated market maker and a yield-generating stablecoin for the Aptos ecosystem — Move Dollar (MOD). According to DefiLlama, the protocol ranks fourth in total value locked (TVL) among all Aptos-based DeFi protocols.
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