The individual responsible for the $11.6 million exploit on decentralized finance (DeFi) protocol Prisma Finance has asserted that it was a "whitehat rescue" and has expressed interest in returning the funds, as indicated by on-chain messages.

In a message posted around six hours after the attack on March 28, the exploiter stated, "Hi, this is a whitehat rescue, who can I contact to refund," using the address "0x2d4…7507a," previously linked to the attack. Prisma Finance responded approximately two hours later, directing the individual to contact them at negotiations@prismafinance.com.

A white hat hacker typically identifies security vulnerabilities in software code and notifies the creator rather than exploiting them. However, in the cryptocurrency realm, hackers may exploit protocols and then seek a white hat bounty in exchange for immunity, although instances of returning funds without seeking reward have also occurred.

The initial malicious transactions occurred at 11:29 am UTC on March 28, with Prisma Finance still investigating the root cause of the attack. Blockchain security firm PeckShield estimated that approximately $11.6 million was stolen and transferred to three separate addresses.

The hacker subsequently began converting the stolen funds to Ether (ETH), with about 200 Ether later observed to have been transferred to the OFAC-sanctioned cryptocurrency mixer Tornado Cash, according to blockchain security firm Cyvers. Prisma Finance has halted its DeFi protocol, and prior to the exploit, it had around $220 million in total value locked, which has since dropped to $115 million, according to DeFiLlama.

Following the news, the Prisma Governance Token (PRISMA) experienced a 30% decline to $0.244 but has since recovered to $0.289, according to CoinGecko. Despite efforts, Cointelegraph's attempt to reach out to Prisma Finance for comment went unanswered.

Cryptocurrency hacks continue to impede progress in the DeFi sector, with over $200 million lost to hacks and rug pulls across 32 incidents in the first two months of 2024, according to Web3 security firm Immunefi. In 2023, a total of $1.8 billion was lost to cryptocurrency hacks and scams, with 17% attributed to the North Korean Lazarus Group, according to a report by Immunefi dated Dec. 28.