Sturdy Finance offers $100K bounty to hacker for fund return in DeFi protocol.
The Sturdy Finance platform, which operates in decentralized finance (DeFi), has offered a bounty of $100,000 to the hacker who exploited its protocol. The platform stated that it will not pursue the issue further if the attacker accepts the offer. On June 12, the DeFi platform experienced a loss of almost $800,000 in digital assets due to an attack on vulnerabilities within the platform. Security companies identified the faulty price oracle as the cause of the exploit, which was carried out through a reentrancy attack. In response, the platform paused all markets and assured the community that other funds were not at risk. Just one day after the attack, Sturdy Finance’s founder, Sam Forman, tweeted that they would offer $100,000 to the perpetrators if they agreed to return the remaining funds to a wallet specified by the platform. According to Forman, recent hacks have shown that it is not as easy to evade exploits as it used to be. The executive said that if the hacker accepts the offer, they are willing to drop the issue and are open to discussing with the attacker. Recent exploits have shown that offering bounties to attackers may allow platforms to recover a portion of the hacked funds. However, not all projects share the same luck in negotiations with hackers. On June 1, the Jimbos Protocol team offered an $800,000 bounty to the public after the attacker who performed an exploit on their platform ignored their bounty offer.