Socket bridge victims will be made whole

  blockworks.co 8 h

Socket Tech, a blockchain interoperability protocol, has announced a compensation plan for those affected by the Jan. 16 security incident that occurred on their network.

The exploit was more limited in scope than originally thought — affecting only 232 users — but those affected lost about $3.3 million in assets.

The team announced in a Thursday blog post that “a series of negotiations” with the hacker resulted in the recovery of 1032 ether (ETH) — about $2.3 million at current prices. ETH itself is down about 11% since the time of the incident, alongside the broader crypto market.