DeFi Project dForce Refunds All Affected Users After $25M Hack

dForce refunds all users after hack

Digital assets stolen in a hack on crypto lending platform dForce last week have been returned to customers.

As reported by CoinDesk, a hack on the decentralized finance (DeFi) protocol saw $25 million in cryptocurrencies exit its wallets over three hours on April 19. Curiously, the assets were returned two days later, for reasons that weren’t made fully clear.

Most of the funds have now been used to pay back all users who’d lost crypto in the attack, according to a Monday announcement by dForce.

“Over 90 percent of assets have been distributed to users in less than 24 hours. 100 percent users have been made whole in the recovery. We will disclose more future actions shortly,” the company tweeted.

CEO Mindao Yang said in a blog post a week ago that the funds had been “recaptured through the efforts collaboratively made by our partners, law enforcement, investors, the community, and our team members.”

In another Medium post on Sunday, the company explained how it has been working since April 25 to audit asset data with a third party and establish a risk management procedure for the redistribution of customer’s funds.

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