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.
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