The multichain token bridge Allbridge, which was recently hacked, said that 1,500 BNB (worth around $465,000) was returned to its team. The rest of the funds will be considered a white hat bounty to the exploiter, according to the statement.

The cross-chain bridge enables digital asset transfer from one blockchain network to another via liquidity pools. Over the weekend, a malicious entity drained funds after manipulating the prices in Allbridge’s liquidity pools on BNB Chain using a flash loan.

Allbridge was forced to suspend its bridge protocol soon after the exploit and offered an undisclosed bounty to the attacker as a chance to escape any legal consequences. The stolen funds were estimated to be more than $550,000 by security firms CertiK and PeckShield, even as the project is yet to confirm the figure.

As per the latest update, Allbridge said the funds received in BNB were converted to BUSD, which will be used as compensation.

(by Chayanika Deka)