Transit Swap: Decoding the curious case of lost-and-partially found

ambcrypto.com:

On 1 October, 2022, Transit Swap, was the latest victim of a hack wherein the organization lost $23 million. However, within 24 hours of the attack, the DEX aggregator received 70% of the stolen $23 million. This was due to a swift response from many blockchain security firms.

The DEX aggregator lost the funds on 1 October after the hacker took advantage of an internal flaw in a swap contract. The Transit Finance team and security firms Peckshield, SlowMist, Bitrace, and TokenPocket responded quickly. Together, these organizations were able to identify the hacker’s IP address, email address, and associated-on-chain addresses.

Less than 24 hours after the hack, Transit Finance reported that “through combined efforts of all parties,” the hacker returned 70% of the stolen funds to two addresses. This came up to a total of $16.2 million recovered from the hacker. 

According to BscScan and EtherScan, these monies were distributed as 3,180 Ethereum [ETH] worth $4.2 million, 1,500 Binance-Peg ETH worth $2 million, and 50,000 Binance Coin [BNB] worth $14.2 million.