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XCarnival , the Ethereum liquidity provider negotiates return of 50% stolen ETH

  • News
  • June 27, 2022
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The blockchain investigator Packshield demands that the hacker use a previously withdrawn pledged NFT from the Bored Ape Yacht Club (BAYC) collection as a guarantee to drain the assets.

The liquidity provider for the Ethereum ecosystem, XCarnival , recovered 1,467 Ether just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol.

Blockchain investigator Peckshield observed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield stated:

“The hack is made possible by allowing a withdrawn pledged NFT to be still used as the collateral, which is then exploited by the hacker to drain assets from the pool.”

Soon after the exposure, XCarnival proactively inform the users about the hack while provisionally suspending a part of its services to counter the bothersome attack. The protocol also offered the hacker 1,500 ETH as a bounty in addition to offering exclusion from legal proceedings.

While the XCarnival hacker’s wallet showed the presence of 3,087 ETH after the hack, the remaining funds seem to be tapped successfully — with the wallet showing 0 ETH at the time of writing.

XCarnival declared their plans to reveal details about the situation in time to come.

What could have been the story of the year turned out to be dissatisfaction after efforts from a white hat hacker to recover a locked phone full of Bitcoin resulted in the discovery of just 0.00300861 BTC.

As Cointelegraph reported, Joe Grand, a computer engineer, and hardware hacker traveled from Portland to Seattle to recover BTC from a Samsung Galaxy SIII phone owned by Lavar, a local bus operator.

Careful efforts that involved micro soldering, downloading the memory, and discovering the Samsung’s swipe pattern for access, Lavar opened his MyCelium Bitcoin wallet and discovered only 0.00300861 BTC — worth $105 at the time, down to roughly $63 at the time of publication.


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