Mixin Network offers $20M bug bounty to hackers in $200M hack

Related: Remitano exchange hacked for $2.7 M; $1.4 M frozen by TetherWhile it is still uncertain how the exploiters managed to take $200 million worth of possessions through an information breach, cross-chain protocols in the decentralized finance (DeFi) space have been the target of some of the greatest exploits in crypto history. Source: Token TerminalCross-chain protocols assist with interoperability in between different chains, permitting users to send out assets from one blockchain to another. Hence, these cross-chain protocols frequently hold a significant amount of possessions from numerous chains, making them vulnerable to such exploits.Magazine: AI has actually killed the industry: EasyTranslate employer on adjusting to alter

Mixin Network, a decentralized cross-chain protocol, in a message to the hacker behind the $200 million exploit on Sept. 23, has actually offered a $20-million bug bounty for the return of the staying funds.Mixin Network secured the message with the exploiter transaction, asking for the exploiter to return the funds as most of the stolen funds were user properties.” Most of our platform possessions were users, and we hope you can refund them. You can keep $20M of the assets as a BUG Bounty Reward for the BUG.” Mixin Network confirmed the exploit on Sept. 25, declaring the exploiters handled to breach a third-party cloud provider, which led to the theft of almost $200 countless assets from the platform. [Announcement] In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Networks cloud company was attacked by hackers, resulting in the loss of some properties on the mainnet. We have gotten in touch with Google and blockchain security company @SlowMist_Team …– Mixin Kernel (@MixinKernel) September 25, 2023