Beanstalk Farms, a credit-based stablecoin protocol that was mined for around $76 million in crypto on April 18, has offered a 10% bounty if attackers return the funds.
Beanstalk Farms offered the hacker a loophole
Protocol announced its offer on Twitter and presented it to the attackers the following day via a chain message. He proposed that the exploiters return 90% of the stolen funds to Beanstalk Farms’ multi-signature wallet. In return, exploiters will be allowed to keep the remaining 10% as a white bounty, which is a way for someone to be rewarded if they hack a protocol but return the funds, which also frees them from trouble. legal. There have been no updates to the offer yet.
While the offer may appeal to the hacker, it appears to be the founders’ latest attempt to return the funds, as they previously said they lacked the resources to refund their users. Another solution proposed by the founders would be to offer a newly created token or reduce the token holdings of its users, but these are still only unformalized ideas.
In the wake of yesterday’s attack, Beanstalk Farms makes the following offer to the exploiter:
— Beanstalk Farms (@BeanstalkFarms) April 18, 2022
What come previously
This weekend, Beanstalk Farm fell victim to an exploit in which an attacker stole $80 million via Tornado Cash. The exploit was made possible by a flash lending attack, in which the exploiter borrowed funds and used them to smuggle a malicious governance proposal that drained all protocol funds into a private Ethereum wallet.
Following the exploit, there were many rumors that it was an internal work of the founders, but in response, the first anonymous founders revealed their identities in order to regain the trust of their investors.