Hacked cryptocurrency platform promises $ 700,000 to anyone who finds hacker

The team of the decentralized finance (DeFi) protocol on the Optimism network, Exactly Protocol, has announced a $ 700,000 reward for any information about the hacker who stole $ 7.2 million.

According to the company, they are currently working with a team that has helped many projects, including Euler Finance, recover stolen assets.

«We will also officially launch a $ 700,000 bounty as an incentive to the community if we do not hear from the attacker by tomorrow,» the statement said.

Last week, Exactly Protocol was hacked. As a result, the hacker stole 4,300 Ether (ETH) (approximately $ 7.2 million). The attacker targeted the DebtManager contract using the address of a malicious market contract and evaded authorization checks by acting as a malicious deposit. The Exactly Protocol team filed a police report and decided to start negotiations with the criminal to recover the lost funds

Before the hack, the total blocked value of the protocol was over $ 36 million. At the time of writing, this figure has dropped to $ 9.62 million.

Prior to the Exactly Protocol hack, Hundred Finance’s DeFi protocol lost $ 7 million as a result of an attack targeting pools in Optimism’s L2 network. According to Peckshield analysts, the hacker donated 200 WBTC to raise the price of hWBTC, take a large position at the new rate, and redeem the initial amount deposited. In this way, the cyber fraudster drained the credit pools with just 2 Wei.

Blockchain security firm Certik confirmed Peckshield’s data. According to analysts' estimates, the loss amounted to about $ 7.4 million.