Hacker Returns All Stolen Funds After Exploiting OlympusDAO

• The Olympus treasury holds a variety of assets including DAI and FRAX.
• OlympusDAO is a decentralized reserve currency system using the OHM token.

Early this morning, a hacker stole 30,000 OHM tokens from OlympusDAO, which are valued at over $300,000. However, hours later, the attacker returned the assets to the DAO, suggesting that they either changed their minds or were a white hat hacker all along. Moreover, Friday morning on Discord, community members were the first to learn about the vulnerability.

“We have closed the affected markets and all other funds are safe”, Olympus assured. The DAO team said that they were looking into the best manner to pay all impacted bonders. Within a few hours, however, OlympusDAO shared some good news with the community: the attacker has returned all of the tokens.

Could Have Officially Taken $3.3 Million

The sum taken was a small percentage of the $3.3 million reward the attacker could have claimed on the bug-hunting website Immunefi for reporting the vulnerability, and Olympus stated this was because of the phased rollout.

A statement stating that “Funds have been returned to the DAO wallet” was included in the latest update. OHM bond payment and further steps will be discussed in the next few hours, the firm stated. OlympusDAO is a decentralized reserve currency system using the OHM token, launched in May of 2021. Moreover, the Olympus treasury holds a variety of assets (including DAI and FRAX) to back OHM tokens.

Since January 2022, the Olympus team has been offering a maximum $3.3 million reward for information leading to the discovery of vulnerabilities in Olympus smart contracts and apps that might lead to the theft of DAO assets.

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