Value DeFi Hacker Sends Back $95,000 in DAI

By Liam Frost

The hacker who recently exploited decentralized finance (DeFi) project Value DeFi for roughly $6 million has returned $95,000 in DAI stablecoins after reading some sad messages left for him in Ethereum transactions.

Using the “Private Note” function, one of the allegedly affected users claimed to be a nurse who lost $100,000 in Value DeFi hack.

“I lost $100,000 in your attack. I am a nurse. These are all my savings. I hope you can return it to me. Everyone will get sick. Think of the nurses who care you when you are sick. I wish you always healthy and enjoy the happiness of the world. GOD BLESS YOU,” the user wrote in their private note.

In his reply, the hacker noted that “there are so many people who lack knowledge and caution, and sooner or later those money will be lost,” but nonetheless sent the user 50,000 DAI a few moments later. 

The hacker then transferred 45,000 DAI to a user claiming to be a student who lost $200,000 of his family’s life savings in the hope of getting a high-yield return.

Value DeFi hacker messaged one of the alleged victims. Image: Etherscan

As Decrypt reported on Saturday, the hacker seemingly used a flash loan attack to siphon money from Value DeFi. Essentially, he affected the prices of tokens in the project’s vault by taking out a flash loan, then bought those tokens for a low price and quickly repaid the load.

Value DeFi has also reached out to the hacker via a private note in a transaction, offering him to keep $1 million as a bug bounty and asking to return the rest.

“Point well-proven! Clearly we were not as knowledgable as we thought we were. How about 1mil DAI as a bounty and you return the DAI back to our affected users. We have a plan to make whole all those affected in our community, and this would accelerate the process,” Value DeFi wrote.

But so far the hacker has chosen to keep nearly $5 million as opposed to trading it for just $1 million.

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