SafeMoon Hacker To Return Majority of Stolen Funds: Details


The SafeMoon community can breathe a sigh of relief as the hacker responsible for last month’s liquidity hack has agreed to return 80% of the stolen funds, amounting to $7.2 million in tokens. The hacker exploited a smart contract vulnerability on March 28, resulting in a $9 million liquidity drain.

In the weeks following the hack, the community expressed their frustration over the lack of updates and progress in recovering the stolen funds. SafeMoon CEO John Karony’s calls for patience were criticized as repetitive and avoidant, while a recent announcement about “New #SAFEMOON app builds submitted!” was labeled as a distraction.

However, according to @SafeMoonSpidey, a deal was struck between both parties, with the hacker returning 80% of the stolen funds and keeping the remaining 20%, with no charges filed against them.

An on-chain message explained that, after careful consideration, it was believed that this was in the best interest of SafeMoon and the community. While some raised concerns that the hacker was being rewarded for criminal behavior, @SafeMoonSpidey called the 20% reward a white hat bounty reward.

The resolution of this issue comes as a relief to the SafeMoon community, which has been eagerly awaiting updates and progress on recovering the stolen funds. @SafeMoonSpidey suggested that the team may have been holding out for this resolution before “updating the app,” indicating that progress may finally be made toward recovery and improving the platform’s security.

Despite some concerns, the return of 80% of the stolen funds is a positive development, providing some closure to the community and signaling a step forward for SafeMoon.

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