Sturdy Finance, has taken an unconventional approach to reclaiming stolen funds. Following an exploit that captured around $800,000 in Ether, the project offered a $100,000 bounty to the attacker.
Sam Forman, founder of Sturdy Finance, confirmed that his team had offered the generous $100,000 bounty. The message asks that the attacker return the stolen funds to an address owned by Sturdy Finance, emphasising that the team will refrain from pursuing legal action if the funds are returned promptly.
Sturdy Finance Offers $100,000 Reward for Information on Attacker. Addressing The Exploit
A security incident took place at Sturdy Finance due to an attacker exploiting a reentrancy vulnerability in one of their liquidity pools. The hacker used this vulnerability to manipulate a price oracle and steal a significant amount of funds from the platform. Sturdy Finance Offers $100,000 Reward for Information on Attacker.
Sturdy Finance responded promptly by suspending all markets as a precautionary measure. The team assured users that no other funds were affected and committed to conducting a thorough investigation into the security of the platform.
A Risky Approach?
Sturdy Finance's unconventional decision to offer a bounty to the attacker shows their commitment to recovering the stolen funds and mitigating the potential fallout. They chose not to pursue criminal charges and instead incentivize the return of the funds, resolving the situation amicably and sending a message about their dedication to decentralization and forgiveness.
The Way Forward
Crypto world awaits outcome of unexpected offer, reminding of challenges faced by decentralised platforms. Sturdy Finance's swift response and commitment to securing users' funds demonstrates determination to uphold safety and integrity standards. Outcome may set precedent for future DeFi security breaches.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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