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Decentralized Finance Protocol (DeFi) Harvest Finance increased its bounty from $ 100,000 to $ 1 million for information that resulted in the return of $ 24 million in siphoned funds taken in an exploit on Monday.
According to Harvest Finance Twitter and the Discord account, Harvest Finance’s anonymous team offers the reward for “tracking” the attacker and returning the funds.
A $ 50 million flash loan from Uniswap was used Monday on Harvest Finance to influence the pricing of the USDC and USDT pools. Harvest Finance’s price feeds – based on Curve Finances’ stablecoin pools in this case – were manipulated by the flash loan which resulted in traders suffering large amounts of “temporary losses” (where token prices momentarily change against investors).
According to DeFi Pulse, the exploit caused the total value of the project under lock (TVL) to drop by 70% from $ 1 billion to $ 296 million.
The Harvest Finance team implied that they knew the identity of the attacker who is “well known in the crypto community” and that he left behind “a significant amount of personally identifiable information,” according to the project’s Discord.
Harvest Finance did not return any questions for comment.
The anonymous developer team is currently administering the return of $ 2.5 million in stablecoins returned to the developer contract. The team is also considering releasing a stock pool of IOUs that pull value from the protocol to pay back haircut traders, according to announcements in the project’s Discord channel.
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