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Harvest Finance, a major decentralized finance protocol, recently announced a $ 100,000 bounty, following a $ 24 million attack on its cash pools.
In a recent tweet released seen by Nairametrics, Harvest Finance revealed that there is so far enough data to identify the attacker, “Who is well known in the crypto community.”
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“Also, for the BTC addresses that hold the funds, there is now a significant amount of personally identifiable information about the attacker, which is well known in the crypto community.
“We are offering a bounty of 100,000 to the first person or team that addresses the attacker” Harvest Finance tweeted.
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Because it is happening
Harvest Finance’s $ 100,000 bounty is coming by the wayside when it observed that its protocol was apparently hacked, with the cyber hacker allegedly exploiting around $ 24 million from Harvest Finance pools and trading for renBTC (rBTC).
Then, Harvest Finance claimed the hack, stating that the protocol is “actively working on the issue of mitigating the economic attack on the Stablecoin and BTC pools “.
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The relationship law,
“We are actively working on the issue of mitigating the economic attack on the Stablecoin and BTC pools and will update this thread in real time as more details become available.
“The economic attack was carried out through the y-pool curve, dramatically stretching the price of stablecoins in Curve and depositing and withdrawing a large number of assets during collection.
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“To protect users, we have withdrawn the funds for the y pool and btc curve strategy in the vault
“At this point, all the Stablecoin and BTC funds are in the vault (not used in a strategy). No other pools are affected.
“To be precise: to protect users, 100% of Stablecoin’s funds and the BTC curve strategy have been withdrawn from the vault strategy.”
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What you should know
Harvest, a new platform (DeFi) built on the Kava blockchain, plans to launch a product that will allow users to make more money on Bitcoin, XRP, Binance coin and two other cryptocurrencies.
Harvest offers cryptocurrency users the platform to provide crypto assets for lending and earn interest on them, as well as use their cryptocurrencies as collateral for the loan; this is according to Brian Kerr, co-founder and CEO of Kava.
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