SafeMoon hacker agrees to return 80% of stolen funds SafeMoon hacker agrees to return 80% of stolen funds
Under the deal, the hacker will keep 20% of the funds as a bounty reward.
1 min read
Updated: Apr. 18, 2023 at 3:50 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The SafeMoon hacker agrees to return 80% of the stolen funds taken in last month’s liquidity hack, per @SafeMoonSpidey.
SafeMoon drained for $9 million
On March 28, a smart contract vulnerability was exploited, leading to a liquidity drain that netted the attacker $9 million in tokens.
In the weeks that followed, the SafeMoon community voiced their dissatisfaction with the lack of meaningful updates on the matter.
For example, a recent post announcing “New #SAFEMOON app builds submitted!” was panned for being ambitious and labeled a distraction to gloss over the hack. Likewise, SafeMoon CEO John Karony’s calls for patience were slammed as repetitive and avoidant.
Hacker to return 80% of funds
According to @SafeMoonSpidey, both parties struck a deal in which the hacker would return 80% of the funds – leaving him to keep 20% with no charges filed against him. An on-chain message read:
“After careful consideration of the circumstances, it is believed this is the best in the best interest of SafeMoon and the community.”
@SafeMoonSpidey said it is “quite possible” that the team was holding out for this resolution before “updating the app.”
Some replies raised the issue that the hacker was rewarded for criminal behavior. @SafeMoonSpidey preferred to call the 20% reward a white hat bounty reward. Moreover, he added that a return of 80% is better than nothing.
Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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The SafeMoon Protocol V2 is a community-focused DeFi token that forms part of the expanding SafeMoon ecosystem.