SushiSwap CEO Announces Recovery of Stolen Funds

04/10/2023 00:30 • Metaverse Matters • 98 views

According to reports, SushiSwap CEO Jared Grey tweeted that it has been confirmed that more than 300 ETH Sifu stolen funds have been recovered from CoffeeBabe, and Lido’s team is being contacted regarding the issue of 700 ETHs.

SushiSwap: More than 300 ETH stolen funds have been recovered from CoffeeBabe

SushiSwap CEO, Jared Grey, has announced that they have successfully recovered more than 300 ETH Sifu stolen funds from CoffeeBabe. Furthermore, the team is currently in talks with Lido regarding the recovery of 700 ETHs.

The Backstory: Theft of Funds

Earlier this month, the SushiSwap community was rocked by the news that over 300 ETH had been stolen from the Sifu platform. The theft was discovered when one of the team members noticed that the Sifu contract had been replaced with a new one, indicating a possible hack.
The team quickly got to work, identifying the attacker and contacting various cryptocurrency exchanges to freeze the stolen funds. However, the funds were quickly moved into smaller wallets and distributed across various DeFi platforms. The team was facing an uphill battle, as the thief was staying one step ahead of them.

The Recovery: A Ray of Hope

In a tweet on Wednesday, Jared Grey confirmed that they had managed to recover over 300 ETH stolen funds from CoffeeBabe. According to reports, CoffeeBabe was one of the smaller wallets that had been used to transfer the stolen funds. The recovery is a significant win for the SushiSwap team, as it shows that they are making progress in their search for the stolen funds.

The Roadmap Ahead: More Work to be Done

While the recovery of over 300 ETH is a step in the right direction, the SushiSwap team still has a long way to go. According to Jared Grey, the team is currently in talks with Lido regarding the recovery of 700 ETHs. Like CoffeeBabe, Lido was one of the wallets that had been used to transfer the stolen funds.
Furthermore, the team is still searching for the remaining stolen funds. The thief has managed to distribute the stolen funds across various DeFi platforms, making it even more difficult for the team to recover the funds. However, with the recovery of more than 300 ETH and ongoing talks with Lido, the team remains optimistic about their chances of recovering the stolen funds.

Conclusion

The recovery of over 300 ETH is a significant win for the SushiSwap team, as it shows that they are making progress in their search for the stolen funds. While there is still more work to be done, the team remains optimistic about their chances of recovering the stolen funds.

FAQs

1. What is SushiSwap?
– SushiSwap is a decentralized exchange built on the Ethereum blockchain.
2. How were the funds stolen from Sifu?
– The funds were stolen through a possible hack of the Sifu contract.
3. Are there any leads on the remaining stolen funds?
– The SushiSwap team is still actively searching for the remaining stolen funds.

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