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Harvest Finance places $100K bounty on alleged hacker


Harvest Finance, a severe decentralized finance protocol, has seemingly issued a $100,000 bounty inside the aftermath of a $24 millon assault specializing in its liquidity swimming swimming pools.

In an Oct. 26 tweet, Harvest Finance talked about that there is ample info up to now to find out the attacker, “who’s well-known inside the crypto group.”

Harvest Finance’s $100,000 bounty comes shortly after the protocol was apparently hacked earlier proper this second, with an attacker reportedly exploiting about $24 million from Harvest Finance swimming swimming pools and swapping for renBTC (rBTC). Harvest Finance subsequently confirmed the hack, claiming that the protocol is “working actively on the issue of mitigating the monetary assault on the Stablecoin and BTC swimming swimming pools.”

The attacker subsequently despatched once more about $2.5 million to the deployer inside the kind of Tether (USDT) and USD Coin (USDC). “This can doubtless be distributed to the affected depositors pro-rata using a snapshot,” Harvest Finance tweeted.

In a joint effort with Ren Protocol, Harvest Finance managed to find out Bitcoin addresses the place the funds have been transferred. Harvest Finance’s representatives subsequently asked important exchanges along with Binance and Coinbase to freeze the allegedly stolen funds.

On the time of publication, Harvest Finance’s FARM token tumbled about 60% over the earlier 24 hours. Complete price locked inside the Harvest protocol moreover dropped intently from above $1 billion on Oct. 25 to about $570 million, in step with info from DeFi Pulse.

Complete price locked in Harvest Finance (USD). Provide: DeFi Pulse

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