Zach XBT Report: PrismaFi Loses $11.1 Million in Mysterious Disappearance
The tranquility of the DeFi community has recently been shattered by the thorough investigation conducted by Zach XBT, which has exposed suspicious transactions relating to the $11 million Prisma finance hack.
As revealed by Zach XBT, this exploit resulted in the staggering loss of 3257 ETH, equivalent to approximately $11.1 million. The individual responsible for this attack is known by the address 0x7e39e3b3ff7adef2613d5cc49558eab74b9a4202, and goes by the alias “Trung” among other pseudonyms.
Further scrutiny was undertaken, delving into the alleged exploiter’s phone number, emails, and other personal details. From the posts made by this individual on X, it becomes evident that they possess a strong technical background.
At present, all relevant personal information has been compiled, and the Prisma team is actively pursuing every possible course of action.
pic.twitter.com/GvQIbXbxdG
— ZachXBT (@zachxbt)
April 16, 2024
Initially, Trung engaged in a conversation with the Prisma deployer, claiming that their actions were carried out in good faith. While the initial deposit may have been made as a show of support, the subsequent act of funding Tornado Cash contradicted this statement.
What’s more, Trung made audacious demands, such as a $3.8 million (34%) white-hat bounty, a figure significantly higher than the industry standard of 10%. Consequently, PrismaFi found itself in a precarious position, as the lack of sufficient assets in its treasury hindered the resolution of the user repayment issue.
Further investigation by Zach XBT revealed a deeper involvement of Trung, uncovering a series of transactions and patterns that extended beyond this hack. It became evident that the hack was a result of Arbitrum, as there were subsequent transactions on platforms like Tron and Bybit.
Interestingly, the name Trung seems to be associated with individuals who have engaged in illicit activities in other projects, such as Pine Protocol and Arcade_xyz, where similar requests were made, and sometimes even more.
The investigation also revealed a concerning connection between Trung and the operating address of Modulus protocol, further implicating him in various DeFi events. A closer examination of phone numbers, addresses, and other information provided strong evidence of his extensive technical knowledge.
In response, Prisma Finance has taken proactive measures, including pursuing legal action in Vietnam and Australia to address the issue. However, Zach XBT reached out to Trung, urging him to return the money and advising against exacerbating the situation.
As the cryptocurrency space continues to grow, it is imperative to implement stringent security measures and oversight to safeguard users against malicious actors.
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Hack