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- DeFi platform Tapioca DAO is the usage of the next bounty to recuperate $4.7 million
- Tapioca has equipped extra than 20% of the hacked funds to the attacker
- The DeFi platform said that the hacker used a social engineering device to infiltrate the protocol
DeFi protocol Tapioca DAO has equipped its hacker a pc virus bounty of $1 million, which is extra than 20% of the $4.7 million siphoned from the platform. The protocol said that the hacker used a “social engineering” device to compromise several liquidity swimming pools and the community’s “token vesting contract.” Tapioca said that the bounty is supposed to entice the hacker into returning most of the funds, something that can develop into the industry customary as a change of the standard bounty quantity of 10%.
No Strings Linked
Tapioca despatched an on-chain message to the attacker noting that the bounty permits the hacker to hold the funds “which would possibly perchance well perchance be totally legally” theirs. The protocol added that the bounty doesn’t contain “strings hooked up.”
Linked below is a link to the actual on-chain correspondence from Tapioca DAO Foundation to the hacker to blame for the incident on October 18th, 2024.https://t.co/T9LEMthT0O
— Tapioca Foundation (@tapioca_dao) October 20, 2024
The Tapioca Foundation disclosed that they’ve interested “mandatory individuals and entities,” a model it would possibly perchance probably perchance well perchance involve laws enforcement agencies in case the hacker decides to hold your entire loot.
Tapioca has warned customers against interacting “with any Tapioca contracts.” It has also published that it’s conducting a put up-mortem of the incident and devising a migration conception for its native token.
Please watch for the actual announcement, Put up Mortem, and TAP Token Migration Idea referring to at the contemporary time’s sorrowful occasions for a “provide of truth” on all vital components surrounding the topic. Rob the leisure acknowledged otherwise as speculation or misinformation.
Please proceed to now not work collectively…
— Tapioca Foundation (@tapioca_dao) October 18, 2024
The protocol’s TAP token rate has plummeted from a excessive of around $1.forty five on October 19 to a low of $0.014 on October 21 in line with CoinGecko. The protocol admitted to being hacked on October 18.
Now now not Each and each Hacker Wants a Bounty
Tapioca offering the next bounty than the standard 10% isn’t a stutter that the hacker will return the funds. Prior to now, malicious actors admire the PlayDapp hacker hold refused to take a white hat bounty.
Others admire the Mango Markets attacker hold now not noted a bounty and expressed the must hold the loot regardless of being identified and brought to court.
With the hacker but to switch the stolen funds to varied wallets, it’s seemingly he’ll take the bounty.
