Decentralized lending platform Sturdy Finance has declared a $100,000 bounty for the hacker who stole 442 ETH from the protocol. The lending protocol promised to let the matter slide if the hacker agreed to return the stolen funds and take the bounty.
This development comes after a hacker looted 442 ETH worth nearly $800,000 after exploiting an Oracle price discrepancy on the protocol on June 12. Blockchain security platform PeckShield had alerted Sturdy Finance after spotting the questionable transaction.
The Hack Bounty Offer: Sturdy Willing To Backdown If Hacker Surrenders Stolen Funds
Security firm BlockSec noted that the hacker carried out the shady operation through read-only reentrancy, allowing them to manipulate the BstETH-Stable price on the protocol. After confirming the loss, Sturdy Finance promised users that its team would resolve the matter and deliver updates.
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