Jimbos Protocol Offers Hacker 90/10 Split or Legal Action

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• Jimbos Protocol has threatened to take a hacker to court if he fails to return the funds siphoned from the platform on May 28
• The DeFi platform has offered the attacker 10% of the $7.5 million he maliciously acquired through a flash loan attack
• The protocol claims its working with security researchers that helped Euler Finance recover most of its hacked funds

DeFi platform Jimbos Protocol has threatened to take a hacker to court if he fails to return part of the funds siphoned from the platform on May 28. The DeFi platform requested the attacker to keep 10% of the $7.5 million he maliciously acquired through a flash loan attack. The platform has claimed it’s working with the same security researchers that helped Euler Finance recover most of its hacked funds.

A Fast $800K Payday

In a tweet, Jimbos encouraged the attacker to take the offer since it translates to “a fast $800K payday,” adding that such a move will stop the protocol from engaging on-chain analysts and security agencies.

To the attacker: keep a fast $800k payday, and live to tell the tale. We won’t pursue you if you send back the 90%. But if you don’t, we won’t stop until you’re behind bars. 🙈🙉🙊👻

You can open communications with us at [email protected]

— Jimbos Protocol (v2, soon) (@jimbosprotocol) May 29, 2023

However, the attacker failed to respond to the first on-chain message prompting the DeFi protocol to send another message giving the hacker a window of roughly 24 hours to honor the demands before the case is handed over to “law enforcement agencies.”

When the window closed without a reply, the protocol disclosed that it had narrowed down the list of suspects to “one in particular” after seeking help from more entities such as exchanges.

Over the past 24 hours, we’ve been working with security experts, bridges, and exchanges. Thanks to their help, we’ve identified promising leads, and one in particular.

We hope the attacker will *voluntarily* cooperate – before they have no choice but to once we pass their info

— Jimbos Protocol (v2, soon) (@jimbosprotocol) May 29, 2023

Crypto Hackers Prefer Bounties

Although the Jimbos hacker is yet to respond, a recent report by TRM Labs noted that crypto hackers are preferring to negotiate a ‘white hack’ bounty with crypto platforms instead of keeping the entire stash of stolen funds.

Crema and Tender.fi attackers are examples of hackers who have returned stolen funds for a bounty, while others like the Mango Markets hacker have expressed an intention to keep the dirty money despite their real identities being revealed.

With the involvement of researchers and law enforcement agencies, it’s yet to be seen whether the Jimbos hacker will take the 10% offer.