Steadefi released the progress of the attack: about US$418,000 of user funds have been successfully recovered, and the case has been reported to the authorities

Odaily Planet Daily News Steadefi, a DeFi lending project deployed on Arbitrum and Avalanche, tweeted about the previous attacks that the team had successfully recovered about $418,000 in user funds from the remaining affected vaults. Additionally, the team has reported the incident to the authorities and is currently working with security firms to track the attacker’s on-chain and off-chain activities. Steadefi said it will continue to investigate the attack and develop a follow-up action plan. According to news yesterday, Steadefi tweeted that due to the hacker attack on the control of the contract, the loss amounted to 1.14 million US dollars. Among them, the funds in the borrowing vault were exhausted by hackers, converted into ETH and cross-chained to Ethereum, and the funds in the deposit vault were not exhausted because the hackers had no right to withdraw the funds. Steadefi said that if the hacker returns the funds at 16:00 on August 10 (UTC+8), 10% of the attack amount can be retained.