On Sunday, Crema Finance, a Solana concentrated liquidity protocol, suffered from a flash loan exploit.
Losses total 69,422.9 SOL & 6,497,738 USDC stablecoin, about $9 million at the time of the hack.
According to an update from Crema Finance, the attacker returned the stolen funds after a negotiation.
Crema Finance confirmed that hackers transferred 6,064 ETH ($7 million) and 23,967 SOL ($870,000) to the team’s wallets on Solana & Ethereum in 4 transactions.
According to the negotiated agreement, the hacker was allowed to keep 45,455 SOL ($1.65 million) as a reward. The team has labeled the perpetrator a “white hat,” a term for ethical hackers. This means that Crema Finance is unlikely to take any legal action against the as yet unknown hacker.
“After a long negotiation, the hacker agreed to take 45,455 SOL as a white hat bonus. We have now confirmed receipt of 6,064 ETH + 23,967.9 SOL in 4 transactions,” the team said.
After the hack, the team attempted to negotiate with the hacker, sending a onchain message offering a bounty reward. The next day, it received an onchain response from hacker who said, “Team Crema, since you’re trying to reach me to negotiate, let’s chat.”