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SpankChain Receives Stolen Ethers Back And Pays Reward To Hacker

Published: 12/10/2018
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What is it for?

The anonymous hacker, who stole 165.38 ethers (about $38,000) from SpankChain, returned the funds after a phone conversation with Ameen Soleimani, the platform’s head.

 

The attacker revealed the private keys of the wallet where the stolen ethers were kept. After that, the company published the transaction data proving the successful return of the funds.

 

The scammer launched a malware smart contract and benefited from the “reentrancy” vulnerability to hack SpankChain. This method triggers the “transfer” function, and the funds are returned to the payment channel contract, what brings tokens to the fraudster.

 

Apart from the ether theft, the internal BOOTY tokens worth $4000 were blocked on the platform. The developers managed to detect the hack only a day later because they were engaged in the elimination of other errors in smart contracts at that time.

 

As SpankChain tweeted later, the team sent the hacker a reward of $5000 and 5.5 ethers that he spent to commit the attack. Also the platform paid the scammer $4000 for unfreezing the BOOTY tokens.

 

In total, the hacker received $9000 for returning the stolen cryptocurrency. For such a step, SpankChain thanked the scammer on Twitter.

 

The Blockchain-based platform, SpankChain, is an ecosystem delivering entertainment content for adults. As stated in their blog, the team aims to solve the underpayment problem of the porn industry workers.

 

Previously, a hacker promised to livestream a 51% attack.

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cyber attack SpankChain
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