A recent attack resulted in the theft of around $573,000 in cryptocurrency from Allbridge, a multichain token bridge. However, the situation seems to have taken a positive turn as the hacker has returned a significant portion of the funds after accepting the project’s offer for a “white hat bounty.”

Allbridge announced on April 3 that it had received a message from an individual, and 1,500 Binance Coin (BNB) worth around $465,000, had been returned to the project. The remaining funds will be considered a white hat bounty to the individual. Allbridge converted the BNB received to the stablecoin Binance USD (BUSD) to be used as compensation.

The attack was first identified on April 1 by blockchain security firm Peckshield. It warned Allbridge in a tweet that its BNB Chain pools swap price was being manipulated by an individual acting as a liquidity provider and swapper. Following the exploit, Allbridge offered the attacker a bounty and the chance to escape any legal ramifications.

While Allbridge has not publicly disclosed the total amount stolen, blockchain security firm CertiK estimated the sum to be close to $550,000, while Peckshield claimed the exploit netted $282,889 in BUSD and $290,868 worth of Tether (USDT), totaling roughly $573,000.

Allbridge also revealed that a second address was used to carry out the same exploit, and it has asked the exploiter to return the stolen funds.

Following the initial attack, Allbridge made it clear that they were working with various organizations to retrieve the stolen funds, and BNB Chain was among those who answered the call. In an April 2 tweet, BNB Chain reported that it had discovered at least one of the culprits involved through on-chain analysis and is actively supporting the Allbridge team on the fund recovery. It also gave a shout-out to AvengerDAO for its efforts in the recovery.

Overall, the situation serves as a reminder of the importance of security measures in the world of cryptocurrency. 

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