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Harvest Finance Increases Bounty To $1 Million For Information Related To Hack Earlier This Week
Summary: DeFi protocol Harvest Finance has increased its bounty for information leading to the return of $34 million worth of stolen funds taken during an exploit earlier this week to $1 million, according to a recent tweet. The Harvest Finance team is offering the hefty bounty for tracking down the hacker and returning the funds. The ...
DeFi protocol Harvest Finance has increased its bounty for information leading to the return of $34 million worth of stolen funds taken during an exploit earlier this week to $1 million, according to a recent tweet.
The Harvest Finance team is offering the hefty bounty for tracking down the hacker and returning the funds. The hacker exploited the platform's flash loan feature by taking out flash loans to manipulate Harvest Finance's price on Curve Finance. The hacker took out flash loans which drove down the prices of USDT and USDC on Harvest, allowing them to buy them for cheap. They could then pay back the flash loans while also turning a profit.
After the attack Harvest Finance's total value under lock dropped 70% from $1 billion to $296 million, according to DeFi Pulse. In the Harvest Discord channel, the Harvest team implied they knew the attacker who is "well known in the crypto community."
By Emily Mason
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Link: Harvest Finance Increases Bounty To $1 Million For Information Related To Hack Earlier This Week [Copy]
