Gamma attempts to negotiate with hacker after $3.4M exploit
Blockchain security firm PeckShield confirmed that the amount stolen from Gamma Strategies reached $3.4 million.
Gamma Strategies, an Ethereum-based liquidity management protocol, has sent a message asking to negotiate a bounty with the attacker who stole $3.4 million in digital assets in an attempt to recover the funds lost in the exploit.
On Jan. 4, blockchain security firm PeckShield detected an exploit within Gamma’s vaults. Initial estimates showed that the losses drained around 211.9 Ether (ETH), worth approximately $469,000. However, PeckShield later confirmed that the losses reached $3.4 million and that the exploiter had already transferred $2.2 million to the crypto mixer Tornado Cash.
In response to the attack, Gamma shut down its vault deposits, allowing only withdrawals. The protocol has also sent a message to the exploiter’s wallet address, hoping to start negotiations for a bounty for returning the crypto assets.
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