Jimbos protocol files a legal enforcement case against the exploiter

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After two days of waiting, Jimbo’s protocol finally decided to take help from enforcement agencies to take action against the hacker.

Four days ago, Jimbo’s protocol suffered a flash loan attack. Through the hack attack, the exploiter succeeded to secure nearly 4,000 ETH coins. 

The Jimbo’s protocol team offered the hacker to take 10% of the tokens funds & return the rest of the funds.

https://twitter.com/jimbosprotocol/status/1663204961487028225?t=HSf3AGiCWMLTHsf1bKn3pQ&s=19

On 31 May, Jimbo’s protocol team confirmed that the hacker failed to accept the offer & now its legal team planned to take enforcement action against the hacker. 

Victim Defi protocol said that they initiated this matter with the NewYork branch of the Department of Homeland Security, and are currently opening cases in other jurisdictions. 

Further, the Jimbos team urged the public to support this case to catch the hacker, for a $800k bounty reward and also confirmed that a $800k bounty reward offer is still open for the hacker if he will return all the funds. 

https://twitter.com/jimbosprotocol/status/1663914459755151362?t=GB2XZv6prTXGHk-pINe8zA&s=19

So far not many details are available about this hack attack. Few experts noted that if there will be any big hacking group like North Korea’s Lazarus then surely there is no chance for this platform to get the stolen funds back. 

Over the last 12 months, nearly 70% of the hackers returned the stolen funds to the victims.

Read also: Binance will not provide anonymity focussed crypto asset trading

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