Makina Recovers Roughly 920 ETH from Hacked DeFi Execution Engine
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5h ago
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Source: Coinmarketcap
- Recovery Progress: On January 22 at 9:15 PM ET, Makina announced via its official X account that the MEV Builder returned roughly 920 ETH under the SEAL white hat safe harbor, deducting a 10% bounty, indicating significant progress in recovering hacked funds.
- Stolen Funds Proportion: The returned 920 ETH represents about 90% of the total stolen amount of approximately 1,299 ETH, demonstrating the team's effectiveness in fund recovery and enhancing user confidence in the platform.
- Multi-Sig Wallet Utilization: The recovered funds were sent to the recovery multi-sig wallet 0xc22F…8AB9, ensuring the security of the funds and providing a safeguard for future recovery efforts, reflecting the team's commitment to transparency and security.
- Follow-Up Action Plan: The team is continuing to recover the remaining funds and has reached out to the RocketPool validator address 0x573D…910E, which received approximately 276 ETH, showcasing the team's proactive approach and commitment to protecting user assets.
Analyst Views on DEFI
Wall Street analysts forecast DEFI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DEFI is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 101.936
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
