Sturdy Finance Offers $100,000 Bounty to DeFi Exploiter

Sturdy Finance, a platform for decentralized finance (DeFi), has offered a $100,000 bounty to the intruder who exploited the protocol.

If the assailant accepts the offer, the lending platform’s team will discontinue its investigation.

The DeFi platform lost nearly $800,000 in digital assets on June 12 after an assailant exploited platform vulnerabilities.

A flawed price oracle caused the exploit, and the breach was carried out using a reentrancy attack, according to security firms.

As a result, the platform halted all markets and reassured the community that no other funds were at risk.

Just one day after the hack, the proprietor of Sturdy Finance, Sam Forman, tweeted an offer of $100,000 in exchange for the return of the remaining funds to a specified wallet.

According to Forman, recent breaches have demonstrated that it is no longer straightforward to avoid exploits.

The executive said they would drop the matter if the hacker accepted the offer. Additionally, Forman stated that Sturdy Finance is willing to negotiate with the assailant.

Recent exploits indicate that platforms may be able to recover a portion of the stolen funds by offering bounties to assailants.

By negotiating with and offering a bounty to their hacker, the Euler Finance team recovered 90% of the stolen funds in one of the most significant DeFi breaches of the year on April 4.

By offering a bounty to the perpetrator, the lending protocol Sentiment was able to recover $870,000 following an exploit.

Even though some projects have successfully negotiated with hackers, not all projects have the same good fortune.

The Jimbos Protocol team offered an $800,000 bounty to the public on June 1 after the assailant who exploited their platform disregarded their previous offer.

According to the forum, anyone who provides information leading to the arrest of the perpetrator or the recovery of the stolen funds is eligible for the reward.