The Harvest Finance team has increased the bounty for help in recovering funds, stolen from the platform. Instead of the initial $100,000, the developers are prepared to pay $1 million.
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💵Increasing the bounty for tracking down the attacker and returning the funds to $1M
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Here’s what we know about the attacker:
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1) understands flashloans
\n2) understands arbitrage and trading
\n3) understands curve internal code
\n4) understands renBTC
\n5) understands opsec\n
1/2
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— Harvest Finance (@harvest_finance) October 29, 2020
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Those who wish to help are asked not to disclose the attacker’s identity, and to focus on recovering the funds.
“Here’s what we know about the attacker: understands flash loans, arbitrage and trading, Curve protocol internals, RenBTC, operational security, yield farming, can write smart contracts <…> was available during the attack,” the statement said.
Five random people who retweet the post will be paid one native FARM token each.
The developers promised to distribute among users $2.47 million that the hacker returned. As one of the compensation measures, a debt-based pool could be created.
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Work is underway to build a snapshot claims portal and distribute back the 2.5M, which will bring the drawdown to ~13.5%.
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For further reparations to make amends with the victims of the economic attack, the community has suggested the following solutions, each with pros and cons. pic.twitter.com/gEBUuR50gp
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— Harvest Finance (@harvest_finance) October 28, 2020
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The amount of locked funds in the Harvest Finance DeFi protocol stands at $302 million. As of writing, the project занимает tenth place in DeFi Pulse’s ranking.
Source: DeFi Pulse.
As reported, the attacker used an instant swap to manipulate the prices of the stablecoins USDC and USDT. Representatives of the project explained the attack as an ‘engineering error’.
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