April 30 (Cointime) - The 0VIX Protocol team has issued a stern warning to the individual(s) responsible for a recent attack on their platform. In an official statement posted on Twitter, they demanded the return of stolen funds and threatened to involve law enforcement if their demands were not met by 8 am UTC on May 1, 2023.

The tweet read: "Official message to the attacker: At 8am UTC 1 May 2023 the law enforcement process is scheduled to begin in the absence of any funds being returned. We will take the leads we've gotten so far (thank you to the public for these), combine it with our tracing we've already done on you, and hand it all over."

As Cointime reported yesterday, the 0VIX team, in collaboration with security firms Chainalysis and PeckShield, has been investigating an unlawful exploit that occurred on the 0VIX protocol. The exploit involved a significant deposit and leveraged position created on the protocol, resulting in abnormal utilization, which has been identified as a malicious exploit. The attack was a result of price manipulation of vGHST, a non-collateralizable asset listed on 0VIX. As an emergency procedure, oToken transfers, minting, and liquidations were paused on 0VIX Polygon POS and zkEVM markets.

The 0VIX team also confidently stated that it is extremely difficult to hide one's identity online and that the attacker did not exhibit better operational security than those responsible for recent hacks on @eulerfinance and Sentiment.

In their ultimatum, 0VIX emphasized their commitment to recovering users' lost funds, ensuring the attacker's team is prosecuted and jailed, or both. "We won't stop until we've recovered the protocol users' funds in full, your team has been prosecuted/put in jail, or both. " the team said.