Representatives of Jimbos Protocol company stated that they are working closely with experts on the security of blockchain networks to return stolen funds. We are talking about specialists who helped Euler Finance recover $200 million stolen by attackers. Also, representatives of Jimbos noted that they will contact law enforcement agencies to initiate a criminal case on the theft of a large amount of money if the hacker does not return the cryptocurrency.
Recall that on Saturday, a hacker attack was carried out on the Jimbos service, as a result of which 4090 ETH was stolen. This situation occurred due to the lack of slippage control in the main smart contract, which allowed the attackers to take an express loan for $ 5.9 million and use price manipulation to make illegal profits.
Previously, the developers of the Jimbos protocol planned to issue a semi-stable token with a minimum price to attract traders to the platform.
Flash loans or instant loans are one of the ways to get funds when performing exploits in DeFi. Loans allow traders to borrow unsecured funds using smart contracts instead of third parties.