Defrost Finance Successfully Recover Stolen Money Worth Around $12M

Defrost Finance, the DeFi protocol that suffered a major hack last week, resulting in the loss of approximately $12 million in user funds, has announced that it has successfully recovered the stolen money.

The team behind Defrost Finance announced that the hacker involved in the V1 hack had returned the funds. The company released a wallet address with the funds in question.

​"We will soon start scanning the data on-chain to find out who owned what prior to the hack in order to return them to the rightful owners," Defrost Finance team said. 

Defrost Finance offered the hacker a 20% bounty, saying the amount was negotiable. However, last week's events have raised serious concerns about Defrost Finance's security.

Last Friday, Defrost Finance suffered two hacks. Firstly, a more minor hack targeted its V2 product. The bigger hack, which cost users $12 million, exploited Defrost V1 protocol. Defrost team said that the V1 hacker somehow took Defrost's private key. 

(Source: DAILYCOIN)