DeFi Bank, Curve Finance, Offers $1.85M Bounty to the Public

Curve Finance, a type of digital bank known as a DeFi (Decentralized finance) protocol, is offering a reward of $1.85 million to anyone who can identify the person responsible for stealing over $61 million from its systems on July 30.

Initially, Curve and other affected digital banks gave the hacker a chance to return the stolen money by offering them a 10% bug bounty reward, or $6 million, if they returned the stolen money. The hacker returned some of the money to two digital banks, Alchemix and JPEGd, but kept the rest.

Now that the time for the hacker to return the money is over, Curve is extending the bounty to the public. If anyone can find the hacker in a way that leads to a successful legal case, they will receive a reward of 10% of the remaining stolen money, or $1.85 million. Curve also stated that if the hacker decides to return all of the stolen money, they will drop the issue.

Before giving back some of the money, the hacker left a message. They claimed they were returning the money not because they feared being caught, but because they didn't want to destroy the projects of the digital banks.

The hacker stole $61 million in digital currencies from Curve's systems on July 30. They stole $13.6 million from Alchemix, $11.4 million from JPEGd, and $1.6 million from Metronome. The hacker used a weak point in the system's software to do this. This incident showed that these digital banking systems have problems that need fixing and led to efforts to recover the stolen money.

Reported by Coinpaprika News