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Decentralized exchange Curve Finance has collaborated with Metronome and Alchemix to present a 10% bug bounty to the individuals responsible for the recent exploit that resulted in over $50 million being drained from the platforms’ liquidity pools.
An on-chain message from one hacker’s Ethereum address indicates that the protocols are prepared to halt their pursuit of the matter if the attackers return 90% of the misappropriated funds, allowing them to retain 10% for themselves.
Curve, Metronome, and Alchemix Present Hacker 10% Bounty
It is important to note that four Curve Finance pools were compromised on July 30. The attackers managed to infiltrate the pools utilizing the Ethereum Virtual Machine smart contract programming language Vyper due to a faulty re-entrancy lock.
The exploit impacted decentralized finance protocols such as Metronome, Alchemix, and Ellipsis. Although the total losses from the hack are not definitively known, estimates suggest they exceed $50 million.
Curve, Metronome, and Alchemix have initiated efforts to recover the funds by contacting the attackers on-chain, assuring them of no legal repercussions if they accept the offer. The trio has set a deadline of August 6 for the hackers to return 90% of the funds, or the bounty will be made available to the public, rewarding anyone who can identify them.
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“If you opt not to engage in the voluntary return and complete the process by August 6 at 0800 UTC, we will broaden the bounty to the public, offering the full 10% to the individual who can identify you in a manner that leads to your conviction in court. We will pursue you through all available legal avenues,” the protocols stated.
Approximately $5.4M Returned
The platforms have provided an email address for the exploiters to reach out for negotiations at their earliest convenience. They emphasized that anyone claiming to be the exploiter must authenticate their ownership of the addresses containing the stolen assets before any discussions can commence.
In the meantime, a white hat hacker known as c0ffeebabe.eth has already returned 2,879 ETH, valued at roughly $5.4 million, to the protocol deployer address on July 31 after exploiting one of the exchange’s pools to avert further losses.
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