SafeMoon (SFM) has struck a deal with the hacker who allegedly misused the company’s liquidity pool last month.
SafeMoon, a decentralized finance (DeFi) and blockchain technology company, say it negotiated with the hacker to return 80% of the reported $8.9 million in Binance Coin (BNB) to the hacker stable from the liquidity pool of the project.
According to Twitter user SafeMoonSpideyfollowing SafeMoon, the hacker will receive a bounty of 20% of the stolen treasure and will not be charged.
SafeMoon (SFM) is the renamed successor to SafeMoon (SAFEMOON), a so-called meme coin that initially skyrocketed after being launched in March 2021 to much fanfare due to celebrity hype, before crashing two months later.
The original incarnation of the project has faced three class action lawsuits, and Bloomberg Law reported last year that the founders of SafeMoon LLC were accused of defrauding investors out of hundreds of millions of dollars via artificial price inflation after it was revealed that network transaction fees were not really locked in liquidity pools as mentioned.
SFM is trading at $0.000206 at the time of writing. The 264th ranked crypto asset by market capitalization is down more than 2% in the past 24 hours. It’s also nearly 94% lower than the all-time high of about $0.00338, which it reached in January 2022.
Don’t Miss Out – Subscribe to receive crypto email alerts delivered straight to your inbox
Check price action
follow us on TwitterFacebook and Telegram
Surf the Daily Hodl mix
Image generated: Midway through the journey
