Cryptocurrency News

$100k Bounty Reward For a $24 Mln Malware Attack – Exclusive.

Harvest Finance, a renowned decentralized finance protocol, has seemingly issued a $100k bounty within the aftermath of a $24 Mln attack targeting its liquidity pools.

Within an official tweet today on 26th Oct., Harvest Finance revealed that there’s enough data thus far to spot the attacker, “who is well-known within the crypto community.”

$100k Bounty Reward For a $24 Mln Malware Attack - Exclusive.

Harvest Finance’s $100k bounty comes shortly after the protocol was apparently hacked earlier today, with an attacker reportedly exploiting about $24 Mln from Harvest Finance pools and swapping for renBTC [rBTC]. Harvest Finance subsequently confirmed the hack, claiming that the protocol is “working actively on the difficulty of mitigating the economic attack on the Stablecoin and BTC pools.”

The attacker subsequently sent back about $2.5 Mln to the deployer within the sort of Tether [USDT] and USD Coin [USDC]. “This are going to be distributed to the affected depositors pro-rata employing a snapshot,” Harvest Finance tweeted.

In a joint effort with Ren Protocol, Harvest Finance managed to spot Bitcoin addresses where the funds were transferred. Harvest Finance’s representatives subsequently asked major exchanges including Binance as well as Coinbase to freeze the allegedly stolen funds.

At the reporting time, Harvest Finance’s FARM token tumbled about 60% over the past 24 hours. Total value locked within the Harvest protocol also dropped heavily from above $1 Bln on 25th Oct. to about $570 Mln, consistent with the data from DeFi Pulse.

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