Tuesday, October 3, 2023

$8,900,000 Safemoon Hacker To Obtain 20% of Stolen Binance Coin (BNB) and Immunity From Prosecution in New Deal

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SafeMoon (SFM) has reduce a cope with the hacker who reportedly exploited the corporate’s liquidity pool final month.

SafeMoon, a decentralized finance (DeFi) and blockchain know-how firm, says it negotiated with the hacker to return 80% of the reported $8.9 million value of Binance Coin (BNB) the hacker stole from the undertaking’s liquidity pool.

Based on Twitter consumer SafeMoonSpidey, who tracks SafeMoon, the hacker will obtain a bounty of 20% of the stolen trove and won’t be charged.

SafeMoon (SFM) is the rebranded follow-up to SafeMoon (SAFEMOON), a so-called meme coin that originally skyrocketed after launching to nice fanfare as a consequence of superstar hype in March of 2021 earlier than crashing two months later.

The unique incarnation of the undertaking has confronted three class-action lawsuits, and Bloomberg Legislation reported final yr that the founders of SafeMoon LLC have been accused of defrauding buyers for a whole lot of hundreds of thousands of {dollars} through synthetic value inflation after it was revealed that community transaction charges weren’t really locked in liquidity swimming pools as acknowledged.

SFM is buying and selling at $0.000206 at time of writing. The 264th-ranked crypto asset by market cap is down greater than 2% prior to now 24 hours. It’s also almost 94% down from its all-time excessive of round $0.00338, which it hit in January 2022.

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