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Cross-chain bridge protocol, Socket, has successfully retrieved approximately two-thirds of the funds that were compromised in a recent hack. The exploit on the Socket protocol had adverse effects on 219 users, resulting in net losses totaling around $3.3 million.

 

 

 

In an official announcement from the Socket protocol’s X account, it was revealed that 1,032 Ether (ETH), equivalent to $2.3 million of the stolen amount, has been successfully recovered. The protocol is set to unveil a comprehensive recovery and distribution plan for affected users in the near future. Gratitude was expressed towards various on-chain analytics accounts that played a crucial role in assisting the recovery efforts.

 

 

The exploit, which occurred on January 16, involved the attacker utilizing a token approval from an Ethereum address ending in 97a5 to carry out the malicious activities. The impact of the exploit was felt by wallets with limitless approvals to Socket contracts.

 

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