Nowadays the frequent incidents of Crypto hack have raised serious questions on the crypto projects and their security. Bybit Hack recently and $ 49 million stolen from Infini Crypto Fintech The news of this was still in full swing and now it has become second big hack. In this article, we will discus in details of this hack and details of recovery.
Four years ago, Uranium Finance, which was an automated market maker (AMM) and was running on the Binance Mischievous Chain, became a Victim of a large hack. Hackers took advantage of a decrease in smart contracts and stole a cryptocurrency of about $ 50 million from the liquidity pools of the platform.
Now, the US Government has achieved a major success in this case and has recovered a stolen cryptocurrency of $ 31 million.
Hack Insident and after that
Uranium Finance Hack took place in April 2021, when the platform launched its V2.1 version. During this update, a Safety Flaw came out in the smart contract, stole a huge amount of cryptocurrency from liquidity pools. This included Bitcoin (BTC), Ethereum (Eth), Binance USD (BUSD), Tether (USDT) and other tokens. The attack came out as a major shock for the Defi (Dentralized Finance) Nation, as such attacks usually question the security and reliability of this sector.
Hackers immediately stolen cryptocurrency Twister Money For example, the Crypto sent through the mixer, which made the track to track where the money went. In addition, he transferred assets among different networks using a cross-chain bridge named Anyswap. Doing so helped them hide the stolen funds and it was deficient to track it for police and investigation agencies.
According to some reports, a part of the stolen funds was also spent in buying Uncommon Witchcraft, The Amassing Buying and Selling Playing Cards, which makes hackers of hackers even more mysterious.
31 million dollars recovery and investigation efforts
The stolen total amount was a $ 50 million, US government recovered 31 million dollars. This success is the result of an investment done by Southern District of Pristine York (SDNY) and Hometown Safety Investigations (HSI).
This recovery has led to the proof that the authorities have accelerated the next action of Crypto Criminals and it is a signal that it is no longer more deficient than ever before.
This recovery is a good step, yet it is much less than the stolen amount. SDNY has appealed to affected investors to contact uraniumvictims@hsi.dhs.gov and get more information.
Was this an insider affair?
Some speculation is also being made about the time of hack. The incident occurred immediately after the launch of the V2.1 version of Uranium Finance and shortly after the contract repository of the platform disappeared from GITHUB. This forced some people to think whether it was an insider -cannonsian or it was just a coins. The answer to this question has not been clear yet, but it is an important aspect that the investigation agencies are taking into account.
Conclusion
Uranium Finance Hack shook the Defi Nation, but in this case it has been clear from the recovery of $ 31 million by US Government that it is clear that Cryptocurrency Crime’s Against Investigation is fasting. However, this recovery did not return the entire stolen amount, but it is a positive step and shows that stealing cryptocurrency is no longer as easy as before. Despite this, this incident is a warning for all crypto investors that should take care of safety.
