Cream Finance to reimburse stolen Ether and AMP with protocol fees, offer 10% bug bonus BTC Peer


Cream Finance to reimburse stolen Ether and AMP with protocol fees, offers 10% bug bonus

Cream Finance intends to reimburse users after identifying the AMP (OTC 🙂 integration error that caused a loss of $ 25 million on the protocol.

Earlier this week, DeFi Lending Protocol announced that it had lost $ 25 million in a flash loan attack. Having accepted full responsibility for the exploit, Cream revealed that she would devote 20% of all fees to reimbursing affected customers.

Although unhappy and disappointing, we take responsibility for the error.

In addition, he has offered to give a bug bounty of 10% to the exploiter if he decides to return the stolen funds and up to 50% for third parties who can help recover the funds.

If anyone is able to identify and provide information leading to the arrest and prosecution of the exploiter, we will share 50% of all funds returned.

In the meantime, the team contacted “the competent authorities to pursue all available avenues”.

Unlike the Poly Network incident where the attacker offered to return his $ 600 million loot, it looks like Cream Finance is on the verge of a long journey. This is the second time in six months that the protocol has been hacked.

Continue reading on BTC Peers

Disclaimer: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. Therefore, the prices may not be exact and differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.

Source link

Leave A Reply

Your email address will not be published.