Rogue Developer Returns $62 Million Stolen in Munchables Hack Without Ransom Demand
In a surprising turn of events, the rogue developer responsible for the $62 million Munchables hack has returned all the stolen funds without demanding a ransom. The hack, which occurred on the 26th of March, saw Munchables lose 17,400 ETH worth $62 million during the exploit.
The investigation into the hack revealed that the attack was an inside job, with a hired developer known as Werewolves0943 being responsible for the theft. What made this situation unique was the alleged ties the developer had with North Korea, raising concerns about national security. However, after 8 hours of negotiations, the developer agreed to return the stolen funds without any ransom demand.
Munchables, with the help of blockchain security firm PeckShield and on-chain investigator ZachXBT, tracked the movement of the stolen funds and successfully intercepted them. The recovered funds, totaling $62,535,441.24 USD and 73 WETH, will now be redistributed with the assistance of Blast blockchain creator Pacman.
Pacman has urged developers and users to be more vigilant about protocol security in light of this incident, emphasizing the importance of taking precautions to prevent future exploits. The Munchables hack comes on the heels of another DeFi hack involving ParaSwap, where $24,000 was stolen from four addresses before being recovered with the help of white hat hackers.
As the crypto community learns from these incidents, it is crucial for all stakeholders to prioritize security measures to protect users and prevent further exploits.
