PANews reported on April 1 that according to Cointelegraph, the founder of the recently hacked decentralized financial protocol SIR.trading, "Xatarrer", pleaded with the attackers to return about 70% of the stolen customer funds, otherwise the protocol would not survive. "Here is my proposal, you keep $100,000 as a fair reward for discovering critical vulnerabilities, and then return the rest. We are even, there is no legal dispute, and no drama." Previously, the protocol suffered a $355,000 hacker attack on March 30.
Xatarrer said SIR.trading was built on the back of four years of late-night coding and $70,000 from friends and supporters (no additional venture capital funding). Xatarrer even praised the hacker's attack, saying that if it weren't for the huge amount of money people lost, the attack would have been "almost perfect." According to data from Ethereum block browser Etherscan, the hacker has not responded and has transferred the stolen funds to the Ethereum privacy solution Railgun.
Xatarrer initially stated on March 30 that despite the setback, the SIR.trading team intends to keep the protocol up and running. “We have already started planning the next steps. Those affected by the hack will not be forgotten,” they said on March 31.
