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by Mishal Ali
Defrost Finance, a DeFi protocol built on Avalanche, published a blog post on Medium today detailing the refunding process after retrieving the funds lost in its recent exploit.
According to the post, all stolen funds from V1 have been given back. Soon, the Defrost team will begin the process of returning these assets to their legitimate owners.
The platform said yesterday that the V1 hacker had refunded the stolen money. To restore items to their rightful owners, they will begin analyzing the on-chain data to determine who had them before the breach.
Today, they revealed the refunding process and key stages that will be taken over the next few days. Firstly, at the on-chain market rate, all of the ETH at the address will be converted to stablecoins, preferably DAI. Along with that, all stablecoins will be transferred from ETH to Avalanche.
Moreover, the team will examine the data stored on-chain to discover who owned what before the attack. Upon completion of the scanning process,