According to Prisma Finance, 540 thousand dollars are still at risk, the hacker group reveals itself

Decentralized finance (DeFi) firm Prisma Finance says it still has $540,000 from its account to cancel the smart contract responsible for last week's $11.6 million exploit.

Meanwhile, the “white hat” hacker who claimed to be behind the hack said they would withhold refunds until the organization apologized and revealed their group's identity online.

In a post on April 1st on “The Way To Transfer”, main contributor “Frank” said that he will continue to seek refunds, but that his main priority is to terminate the protocol – but that all users need to ensure their wallets and locations are safe first.

The protocol suffered a multimillion-dollar exploit last week, which was later revealed to be the result of two MigrateTroveZap contracts that were intended to migrate user spaces from one trove manager to another, according to Prisma's obituary, which was last updated on March 31.

However, Frank said there are still 14 balances that have failed to cancel the affected smart contract, five of which are still “at risk” with open positions totaling more than $500,000.

“Many of the victims trove that exposure contracts have been waived to the tune of $540,000 as of this writing.”

Prisma is a decentralized lending protocol based on “troves” – Ethereum addresses – where users can borrow and hold loans.

The largest “at risk” address holds $484,380, while the other four hold between $7,120 and $22,080.

Frank explained that part of Prisma's “transmission method” was to “keep extra reserves” when trying to recover stolen funds.

A new proposal to reduce revenue from POL and vePRISMA was presented on April 1.

Prisma also stated that the exploited contract has been removed from the main protocol and plans to relaunch it once the rest of the user funds are secured.

Ask for your identification and publicly apologize for the abuser's requests

Meanwhile, the self-proclaimed “white hat” has accused Diffie's organization of failing to act in good faith and said the money will not be returned unless he makes a public apology.

Part of that apology included Prisma holding an online conference, where the entire team had to show their faces with IDs and apologize to all users and investors for not properly auditing the smart contract.

In a March 30 message on the chain, the exploit wrote:

“You need to present the mistakes you made in that session, which party checked the smart contract, and your plan to improve security in the future.”

The exploiter also wants Prisma to know that they have “no responsibility” in his ordeal and that they are trying to help Prisma right her wrongs.

On-chain messages were sent from the hacker to Prisma Finance. Source: Etherscan

Prisma, however, shot back, saying that even the exploiter should not return any money as a show of good faith, and the two sides continued to argue over chain messages.

“There is little evidence to judge you as being sincere in your intent to return the assets. Most real white hats would have returned at least some of the money by now.”

Related: Ethical hacker raises $5.4M for Curve Finance amid exploit

Since the attack, blockchain security firms Syvers and PeckShield have observed that the hacker began exchanging the stolen funds for Ether (ETH), and about 200 Ether were transferred to OFAC-licensed cryptocurrency mixer Tornado Cash.

Prior to the heist, Prisma Finance had about $220 million in total value locked into the protocol, but that figure has dropped to $87 million, according to Defilama.

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