Steadefi Offers Bounty to Hackers After Exploit
A decentralized finance app, Steadefi, has fallen victim to an exploit, putting all the funds it handles at risk. In response, Steadefi has offered to let the hackers keep 10% of the funds if they return the remaining 90%. The platform does not intend to pursue legal action or involve law enforcement.
Main Points:
- Steadefi has been targeted by an exploit, leaving all funds vulnerable.
- The platform has proposed a bounty to the hackers, offering 10% of the funds if they return the other 90%.
- If the hackers refuse the terms, Steadefi plans to offer the 10% to anyone who provides information leading to their conviction.
- The crypto industry continues to face hacking incidents, with recent attacks on CoinsPaid and vulnerabilities in the industry’s defenses being exposed.
- CoinsPaid has outlined steps for platforms to enhance their security and prevent sophisticated hackers from exploiting vulnerabilities.
Hot Take: The exploit on Steadefi highlights the ongoing vulnerabilities in the crypto industry. While offering a bounty to the hackers shows a willingness to negotiate, it also raises concerns about the platform’s security measures. As the industry strives for legitimacy, it must prioritize robust security protocols to protect investors and traders.
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