Analyst Probes $11 Million PrismaFi Exploit Unveiling DeFi Hacker
The tranquility within the DeFi community was recently shattered when Zach XBT undertook an extensive investigation that unveiled suspicious transactions connected to the $11 million Prisma Finance hack.
Zach XBT’s inquiry exposed the full extent of the exploit, resulting in a staggering loss of 3257 ETH, equivalent to $11.1 million. The perpetrator, known as “Trung” and operating under various aliases, was identified through the address 0x7e39e3b3ff7adef2613d5cc49558eab74b9a4202.
Further analysis was conducted using the phone number, emails, and other details associated with the alleged exploiter. From the information gathered, it is evident that Trung possesses a strong technical background, as indicated by their posts on X.
A deeper examination of the deception employed by Trung reveals that he initially engaged in conversation with the Prisma deployer, claiming that his actions were carried out in good faith. While the initial deposit seemed supportive, the subsequent funding of Tornado Cash contradicted this statement.
Trung escalated the situation by making bold demands, including a white-hat bounty of $3.8 million (34%), surpassing the industry standard of 10%. This left PrismaFi struggling to maintain its viability, lacking sufficient assets for user repayments.
Delving even further into the conflict, Zach XBT uncovered a complex network of transactions spanning various hacks, originating from Arbitrum and extending to the Tron and Bybit platforms. Notably, Trung’s name emerged in previous questionable dealings involving Pine Protocol and Arcade_xyz.
The investigation unveiled concerning connections between Trung and the operational address of Modulus protocol, indicating his involvement in multiple DeFi incidents. Detailed scrutiny painted a portrait of a highly skilled individual with a strong technical background.
In response, Prisma Finance has taken the most effective action thus far by pursuing legal avenues in Vietnam and Australia to address the issue. Furthermore, Zach XBT reached out to Trung, urging him to return the funds and advising against exacerbating the situation.
This case serves as a reminder that stringent security measures and vigilant oversight are crucial to safeguard users against malicious actors.
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