Attacker Behind $1.7 Million Crypto Hack Wants to Negotiate

The individual responsible for the $1.7 million crypto hack targeting Goledo Finance on January 28 has expressed an interest in negotiating.

This unexpected twist follows a recent trend of cyber attackers seeking dialogue with their victims.

Crypto Hacker Is Willing to Negotiate

Goledo Finance acknowledged the breach of its lending and borrowing market built on Conflux eSpace. The firm reported irregularities in its lending pool and promptly paused it, ensuring no further exploitation could occur. The firm’s response was swift and transparent, attempting to maintain user trust.

The attacker, whose identity remains unknown, contacted Goledo Finance directly. “I hacked Goledo and want to negotiate 20240128,” the message read. However, rare and unheard of, this direct approach in cybercrime underscores the hackers’ desire for rewards when they discover vulnerabilities.

Read more: Identifying & Exploring Risk on DeFi Lending Protocols

In a statement, Goledo Finance confirmed to be in contact with the crypto hacker, engaging in active negotiations. The DeFi project outlined a clear stance, demanding all stolen tokens be returned to the protocol. It even offered a reward contingent upon the full return of the stolen assets.

“We demand the return of all stolen tokens to the protocol. Upon receipt of the full amount, we will issue a whitehat reward and will not pursue legal action,” the message read.

Moreover, Goledo Finance has been working with centralized exchange partners, freezing the hacker’s accounts. Collaborating with local authorities, the DeFi protocol aims to recover the frozen funds.

Goledo Finance Price Performance. Source: CoinMarketCap

Goledo Finance’s handling of the situation – prioritizing transparency, swift action, and open communication – reflects a mature approach to crisis management. Still, the native token Goledo Finance, GOL, has experienced a significant 35% plunge in value, and it remains uncertain whether the hacker will return the stolen cryptos.

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