White hat hackers assist Foom Cash in recovering $1.84 million of stolen funds, accounting for approximately 81% of the total funds

According to Cointelegraph, the decentralized anonymous lottery protocol Foom Cash lost approximately $2.26 million in funds due to a security vulnerability exploit, but white hat hackers intervened in time to help recover $1.84 million (about 81% of the stolen funds).

This security incident stemmed from a critical error during the deployment of Foom Cash, specifically involving a Groth16 verifier configuration issue that allowed attackers to submit forged proofs to the protocol.

A white hat hacker known as Duha identified the vulnerability and quickly protected the funds on the Base chain, while the security company Decurity was responsible for the rescue of funds on Ethereum. In return, Foom Cash paid the white hat hacker a bounty of $320,000 and paid Decurity a security fee of $100,000.