bounty

The rapidly evolving landscape of decentralized finance (or DeFi) is filled with promise, but also threat. DeFi has created unique opportunities that never existed before. For example, just last month, Loopscale, an emerging DeFi project, lost $2.8 million in a smart contract exploit from a highly technical hack. This event...

Loopscale is still celebrating with its partial recovery of money and victory. This success is made possible thanks to a 10% bounty offer. Before we uncork the champagne, let's ask a tougher question: Are we setting a dangerous precedent? Are we truly rewarding criminal behavior here and actually incentivizing more...

Loopscale, a decentralized finance (DeFi) platform, has managed to recover around $2.8 million after being exploited in a major exploit over the weekend. Negotiations with the exploiter, who stole $6 million in assets from Loopscale’s multi-chain vaults on April 26, preceded this recovery. This incident is illustrative of an alarming...

Loopscale, a decentralized finance (DeFi) platform, is here to change that. The white hat hacker behind the recent exploit has already reached an agreement to return the stolen funds. The settlement follows Loopscale posting a whitehat bounty for the return of 90% of the stolen assets. The total value of...

To be sure, this sword cuts both ways. On the one hand, it presents unprecedented opportunities to innovate financially and provide equitable access. On the other hand, it’s an absolute training ground for hackers. By September 2022, DeFi platforms had already lost an estimated US$2.32 billion to these exploits. In...

The dust has settled. The $5 million worth of stolen ZK tokens are (largely) back in ZKSync’s possession. The more fundamental question is not the what – it’s the how, and even more importantly, it’s the why. More specifically, it’s the tale of Aditya Menon, the hacker, and the 10%...

The environment of blockchain technology is quickly evolving. Yet new security vulnerabilities can emerge at a moment’s notice, posing significant threats to projects and their end users. Just last month, ZKSync, one of the leading Layer-2 scaling solutions for Ethereum, suffered a hack that revealed fundamental flaws in its protocol....

ZKSync has done a commendable job in revoking over $5 million in tokens. A smart hacker took a 10% bounty to return the assets they stole. After reporting the hack on March 30, on April 23, the company announced that the hacker had acted in good faith. They did manage...

KiloEx, a relatively new DEX, promised a hacker a lucrative 10% white hat bounty of $750,000. In exchange, they asked the hacker to refund 90% of the funds taken from their platform. Yet the offer, listed on April 15, was announced even after the platform shut down its DEX for...