PRISMAPrisma Finance प्राइस

On-chain detective ZachXBT has released an investigation into the suspected $11.1 million Prisma vulnerability exploiter 0x77 (Trung) and the multiple vulnerabilities involved. On March 28, 2024, the Prisma team observed a series of transactions on the MigrateTroveZap contract, resulting in a loss of 3257 ETH (approximately $11.1 million). Initially, the attacker communicated with the Prisma deployer, claiming it was a white hat attack. However, later that day, all funds were transferred to Tornado Cash, contradicting the previous statement. The exploiter began making excessive demands, requesting a $3.8 million (34%) white hat bounty. This amount is far higher than the industry standard of 10% and is essentially extortion on the team, as the treasury does not have enough assets to compensate users.

ZachXBT, a blockchain detective, released an investigation into the suspected Prisma vulnerability exploiter 0x77 (Trung) and the multiple vulnerabilities involved. Prisma team observed a series of transactions on the MigrateTroveZap contract, resulting in a loss of 3,257 ETH (about $11.1 million).Initially, the attacker communicated with the Prisma deployer, claiming it was a white hat attack. However, later that day, all funds were transferred to Tornado Cash, contradicting the previous statement. The exploiter began making excessive demands and requested a white hat bounty of $3.8 million (34%), which is significantly higher than the industry standard of 10%. This is essentially extortion of the team, as the treasury does not have enough assets to compensate users.Through on-chain tracking, PrismaFi vulnerability exploiter 0x77 was previously involved in the Arcade vulnerability exploitation event in March 2023, the Pine protocol vulnerability event starting in February 2024, and the exploiter's address was linked to the Modulus Protocol deployer address. 0x77 is one of the few followers of the project, strengthening the connection between each event. Further analysis of the suspected fraudster's phone number, email, and other details has been conducted. From their posts on X, it can be seen that they have a strong technical background. Currently, all personal information has been sorted, and the Prisma team is pursuing all possible legal avenues in Vietnam and Australia. ZachXBT urges the fraudster to return the funds as soon as possible to avoid further escalation and save time for everyone.

On April 7th, Prisma Finance, the LSD stablecoin protocol, tweeted that its protocol has resumed operation. Users can now deposit LST or LRT collateral, mint their stablecoins mkUSD and ULTRA, and earn profits through SP or various liquidity pools.