BetterBank DeFi Platform on PulseChain Hacked, $5 Million in Losses

The hacker behind the BetterBank attack has returned $2.7 million in stolen pDAI, converted to 309 ETH, after a breach resulted in losses of around $5 million for the platform.

ETH

Summary

The hacker responsible for the BetterBank DeFi attack on PulseChain has returned $2.7 million worth of stolen pDAI after converting it into 309 ETH (approximately $1.4M). The total loss from the attack was around $5 million, with the stolen funds transferred to a specific address.

Terms & Concepts
  • DeFi: Decentralized Finance, a sector of the cryptocurrency market offering financial services like lending, borrowing, and trading, without traditional intermediaries.
  • PulseChain: A blockchain project designed to provide faster and cheaper transactions while being compatible with Ethereum-based applications.