Tender.fi pays hackers a reward to recover hacked funds

On March 8, according to the data on the chain, the hackers who attacked Tender.fi, the Arbitrum eco-lending agreement, have returned their funds, and the Tend…

Tender.fi pays hackers a reward to recover hacked funds

On March 8, according to the data on the chain, the hackers who attacked Tender.fi, the Arbitrum eco-lending agreement, have returned their funds, and the Tender.fi team agreed to pay 62 ETH (US $96500) to the hackers as a reward. The official team said that the post-event review was in progress.

The Tender.fi hacker has returned the funds and obtained 62 ETH reward

Analysis based on this information:


On March 8, Tender.fi found that it had been hacked by a group targeting its eco-lending service via the Arbitrum network, which resulted in a loss of funds. However, it has been reported that the hackers returned the stolen funds and the Tender.fi team agreed to pay a reward of 62 ETH (equivalent to approximately $96500) to the attackers. This act of returning the funds is somewhat unexpected considering the recent spate of cryptocurrency-related heists that have dominated the headlines.

Tender.fi is an eco-lending agreement which operates on the Arbitrum network. This AI-powered platform provides a trustless and transparent environment by using smart contracts to facilitate peer-to-peer lending agreements. The Arbitrum network is a Layer 2 scaling solution on Ethereum that enables fast and secure transactions at lower fees. Unfortunately for Tender.fi, the hackers found a vulnerability in the platform’s smart contract, which allowed them to siphon off funds from the eco-lending agreement.

The fact that the hackers returned the stolen funds is a rare occurrence in the cryptocurrency ecosystem. Typically, hackers steal funds with the intention of keeping them or selling them on the dark web to monetize their illicit activities. However, the Tender.fi hackers might have returned the funds because they realized the risks involved in holding such a large amount of cryptocurrency, which could be tracked by blockchain analysis. They also might have felt that returning the funds would protect their identity and avoid legal repercussions.

The Tender.fi team’s decision to pay the hackers a reward is also an interesting move. The official team did not reveal the reason behind this decision, but it could be to incentivize ethical hackers to uncover vulnerabilities in their smart contract code before malicious actors can exploit them. Thus, Tender.fi might be aiming to improve its security posture and prevent future attacks by creating a bug bounty program.

In conclusion, the Tender.fi hack can be seen as a wake-up call for eco-lending agreements and other DeFi projects to prioritize security and invest in more robust audit processes. Moreover, this incident shows that hacker motivations are complex, and returning stolen funds isn’t outside the realm of possibility.

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