Sturdy Finance, a decentralized finance (DeFi) platform, has offered a $100,000 bounty to the hacker who exploited their protocol in an attempt to recover the remaining funds. On June 12, the platform experienced a loss of nearly $800,000 in digital assets due to vulnerabilities in its system, which led to a re-entrancy attack. Sturdy Finance paused all markets and reassured its community that other funds were not at risk.
The platform’s founder, Sam Forman, took to twitter just a day after the hack to announce the bounty offer. He stated that recent hacks have shown that evading exploits is not as easy as it used to be. If the hacker agrees to return the remaining funds to a specified wallet, Sturdy Finance is willing to drop the issue and is open to discussing the matter with the attacker.
Offering bounties to hackers has shown some success in recovering hacked funds for certain projects. For example, Euler Finance recovered 90% of stolen funds in a major DeFi hack this year by negotiating and offering a bounty to the attacker. Similarly, Sentiment, a lending protocol, managed to recover $870,000 after an exploit by offering a bounty to the hacker.
However, not all projects have been successful in their bounty offers. The Jimbos Protocol team offered an $800,000 bounty to the public after their attacker ignored their offer. They stated that anyone providing information leading to the hacker’s arrest or the recovery of the funds would be eligible for the reward.
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