$100,000 Bounty On Harvest Finance Hacker Was Just Released

A $100,000 bounty on the Harvest Finance Hacker was just released after the $24 million attack happened in the liquidity pools as we reading more in the latest cryptocurrency news today.

Harvest Finance put a $100,000 bounty on the hacker that attacked the protocol’s liquidity pools. The Defi protocol has said that there is now enough information that will identify the hacker. The hack is the latest in the long line of growing pains that were experienced in the young DeFi industry. Decentralized Finance protocol Harvest Finance issued a $100,000 bounty on the hacker that attacked the pool, exploiting $24 million from Harvest Finance and then converted the funds to renBTC. The attack caused the protocol’s native token FARM to drop in price. The platform also appealed directly to the attacker to return the funds as the Defi protocol said in a tweet:

 “For the attacker: you’ve proven your point, if you can return the funds to the users, it would be greatly appreciated by the community, including many bystanders watching DeFi from afar.”

For the attacker: you've proven your point, if you can return the funds to the users, it would be greatly appreciated by the community, including many bystanders watching DeFi from afar

— Harvest Finance (@harvest_finance) October 26, 2020

According to Harvest finance, there is already enough information available to identify the attacker. In a tweet published today, the Defi protocol said that there’s a significant amount of personally identifiable information on the attacker who is well-known in the community. The platform published 10 BTC addresses claiming that all of the hackers’ funds are in these wallets and the protocol even called on major crypto exchanges like Binance to blacklist these addresses.

The attack on the platform is the latest in a succession of hacks and other vulnerabilities that plagued the decentralized community in recent months. The Defi protocol Opyn got attacked as well out of $370,000 while the $FEW scandals caused by a leaked Telegram message, attracted heavy criticism from the community. Charles Storry, the co-founder of PhutureDAO said:

 “As the DeFi space is still in its infancy, we are seeing the type of attacks mature.”

Going forward, Harvest Finance pledged to release a report after the attack and work “on future risk-mitigation strategies against the flash loan economic attacks including evaluating insurance options as well as the reparation strategies.” As reported today, there is a stark similarity between the Harvest Finance hack with the previous $15 million Defi attack on Eminence in that the attackers returned a piece of the stolen funds to the lead developers’ addresses.