The Robin Hoods of crypto are refunding victims

By Scoop
March 31, 2022 · less than 3 min read

Having stolen $50 million in cryptocurrency from stablecoin Cashio, the hackers are giving back some of the stolen money.

Criminals with a conscience

After an ‘infinite mint glitch’ hit Cashio like a bullet train, the stablecoin project was thrown into disarray. Its coin value fell from $1 to $0.00005 when the glitch allowed hackers to mint a potentially infinite amount of tokens – stealing $50 million from hordes of victims.

But now, in a twist of Robin Hood proportions, the hackers want to give some of the stolen money back. A message posted on the blockchain stated that “The intention was only to take money from those who do not need it, not from those who do”, so if you’ve had your Cashio funds swiped – you may be in luck.

Deeds not words

The proof will obviously be in the pudding. The blockchain message from hackers included a specific step-by-step process on how to get the refund, so the waiting game is on for hopeful Cashio investors that are currently down on their luck.

But – and there is a big but – it looks like not everyone will get their crypto back. “We will choose who gets a return”, the message stated. Not exactly the ideal returns policy.

According to blockchain security company Immunefi, hackers have stolen the equivalent of around $550 million in crypto scams in the first three months of 2022 alone. So unless you want a band of Merry Men to get their hacking hands on your cash, it’s worth being ultra-safe with crypto investments.

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