Categories: FintTech

Hacktober Mania: Moola Market Hacker Return $9M Worth Of Stolen Funds Back To The Firm

  • The DeFi lending protocol Moola Market was recently hacked and exploited for $10 million.
  • The attacker has returned most of the funds back to the protocol post-successful negotiations conducted by the firm.

The moola market has become the latest victim of the “hacktober” mania. The Celo protocol market was recently exploited by a hacker that resulted in the firm losing nearly $10 million worth of crypto funds. However, the hacker returned most of the looted funds back to the protocol and has agreed to Moola Market’s terms to accept a bug bounty of $500K.

Moola Market Hacker Returns Funds Back To The Protocol

On October 19, the Celo blockchain-based DeFi lending protocol Moola Market was hacked in which the attacker was able to get away with $10 million worth of funds.

According to blockchain analysis firm Hacken, the attacker manipulated the price of the protocol’s native token MOO by inflating its value and later took massive collateral against the token to syphon away $10 million worth of funds.

https://twitter.com/hackenclub/status/1582489974112686080?ref_src=twsrc%5Etfw” rel=”nofollow noopener

The firm was quick to notice the abnormal activity on its platform and took to Twitter to inform its users of the same, adding that the platform was suspending all activity temporarily.

The DeFi protocol further stated that it has contacted the law firm agencies to initiate a thorough investigation and is willing to negotiate with the hacker if the funds are returned within 24 hours.

https://twitter.com/Moola_Market/status/1582432297835368449?ref_src=twsrc%5Etfw” rel=”nofollow noopener

Surprisingly, the hacker returned 93.1% of the looted funds back to the protocol and accepted Moola Market’s proposal to accept the bug bounty. The hacker also donated a part of his unreturned funds to Moola Market’s Impact Market, a moola market depositor that provides unconditional basic income to underprivileged people worldwide.

https://twitter.com/Moola_Market/status/1582588115637530625?ref_src=twsrc%5Etfw” rel=”nofollow noopener

October has been dubbed as the worst month for the DeFi and crypto space following the extensive incidents of hacking attempts that have been reported this month. The Moola Market hack has divided the crypto world once again, with several people demanding that the DeFi space should prioritise security above all other elements.

https://twitter.com/BezuglyiE/status/1582509013463224321?ref_src=twsrc%5Etfw” rel=”nofollow noopener

Image: Moola Market/Twitter

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Share
Published by
Ryan Helton

Recent Posts

Crescent Petroleum and Dana Gas boost Khor Mor gas capacity by 50% with early completion of KM250 Project

Drilling, construction and commissioning completed eight months ahead of schedule Project adds 250 MMscf/d of…

12 hours ago

IONIX Chain Leads Best Crypto Presale in 2025 as ETH and BTC Slip

Dubai, UAE, 16th October 2025, ZEX PR WIRE, As traditional cryptocurrency giants face market headwinds…

12 hours ago

Your Ride to the City’s Most Stylish Bars-Global Airport Taxi Joins the Spirit of London Cocktail Week 2025

London, UK, 16th October 2025, ZEX PR WIRE, As London gets ready to shake, stir,…

1 day ago

Best Crypto Presale 2025 – IONIX CHAIN Launches Revolutionary AI Layer 1 Blockchain Presale to 1000x Investment

Dubai, UAE, 16th October 2025, ZEX PR WIRE, The cryptocurrency world is buzzing once again…

1 day ago

Ripple and Absa Bank custody deal lands in South Africa

Ripple and Absa Bank struck a deal to roll out institutional digital asset custody in…

2 days ago

Latest news:BTC and XRP prices fluctuate dramatically. WOAMining helps holders earn $6,000 in daily returns.

Durham, England, 14th October 2025, ZEX PR WIRE, The cryptocurrency market never remains quiet for…

3 days ago