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According to on-chain data shared by Twitter user SafeMoonSpidey, a hacker who exploited the decentralized finance (DeFi) protocol Safemoon has agreed to return $7.1 million worth of stolen funds, which amounts to 80% of the total amount embezzled.
In the previous month, a hacker exploited a vulnerability in Safemoon's smart contracts, resulting in the embezzlement of almost $9 million worth of SFM tokens from the Safemoon liquidity pool.
The Safemoon developers informed the community of the update through on-chain transactions, which can be observed on the Binance Smart Chain (BSC) block explorer.
Both parties have reached an agreement on a 20% bug bounty to be given to the hacker. The Safemoon developers have additionally confirmed that no legal action will be taken against the perpetrator.
Over the last 24 hours, Safemoon's token (SFM) has experienced a 2.8% increase in value.
During the 2021 bull market, SFM was among the best-performing tokens, benefiting from endorsements by various celebrities. However, in December, internet personality Jake Paul and others were sued by the SEC for promoting the token.
Source Coindesk
