The hacker who stole $3.5m from the NIRVANA protocol is close to being identified

Two days ago, Nirvana suffered an exploit in which an attacker drained the reserves of approximately $3.5mm worth of stablecoins, which amounted to nearly all of the external assets in the system. This reserve collateral is the necessary backing for ANA & NIRV, without which the algorithmic properties of the tokens cease to function as designed.

The developers are currently employing every means available to restore the protocol. Key elements that have occurred since the exploit:

• The exploit was discovered in the code and fixed by the devs.
• The hacker sent the funds to the Ethereum chain via a bridge.
• The hacker converted the funds from USDT to DAI to prevent them being frozen.
• The wallets involved were flagged.
• The funds have not been sent to tornado or anywhere else to try to avoid detection. They are still sitting in the hacker's wallet.
• A bounty was offered in exchange for returning the funds.
• These terms have been communicated to the hacker’s address.
• An NFT was minted and delivered to the hackers address.
• The originating wallet was traced back to Huobi.
• The Huobi security team is working to identify the hacker.

I was personally invested into this project, and lost approximately 3% of my folio with this hack. I like to think I employ some good risk management strategies, but obviously everyone can become a victim.

Obviously not all developers are ethical, but it is my belief that the developers of this project are just as much a victim as I am. The above points are a summary of the details posted by the developers in the discord.