{"id":38229,"date":"2020-11-17T11:11:00","date_gmt":"2020-11-17T11:11:00","guid":{"rendered":"http:\/\/08ee4103-134e-4e19-b7f4-08e6a242b0fa"},"modified":"2020-11-17T11:11:00","modified_gmt":"2020-11-17T11:11:00","slug":"cryptocurrency-platform-dangles-bug-bounty-carrot-to-hacker-who-stole-2-million","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/cryptocurrency-platform-dangles-bug-bounty-carrot-to-hacker-who-stole-2-million\/","title":{"rendered":"Cryptocurrency platform dangles \u2018bug bounty\u2019 carrot to hacker who stole $2 million"},"content":{"rendered":"
<\/div>\n

Akropolis has offered the hacker who stole $2 million in Dai cryptocurrency a “bug bounty” reward in return for the missing funds.<\/p>\n

In an open letter published on Medium<\/a>, the cryptocurrency “community economy” platform proposed a $200,000 “reward” for the threat actor’s cooperation. <\/p>\n

See also: <\/strong>Chinese city launches cryptocurrency lottery, gives away digital coins to promote adoption<\/a> <\/p>\n

Describing the bug bounty payment “as compensation for your exploit,” Akropolis said<\/a> it “hope[s] that the hacker will take our offer into consideration and cooperate with the team to resolve the issue.” <\/p>\n

The platform revealed the theft of cryptocurrency from its platform last week. As previously reported by ZDNet<\/a>, transactions were temporarily paused to stop more Dai tokens from being stolen in what is known as a “flash loan” attack. <\/p>\n

Flash loan attacks occur on decentralized finance (DeFi) platforms. An attacker loans funds but then exploits a security weakness — such as a vulnerability — to bypass loan mechanisms and walk away with the cryptocurrency they have ‘borrowed.’  <\/p>\n

CNET: <\/strong>The best DIY home security systems for 2020<\/a> <\/p>\n

<\/section>\n

Since the cyberattack, Akropolis has internally investigated the exploit and is currently fixing “contract-level” issues. The company has also launched an external analysis of the incident together with partners and investors.  <\/p>\n

However, Akropolis has chosen not to go to law enforcement — yet — in the hope that the hacker will agree to the firm’s proposal.  <\/p>\n

“We would like to propose that you return the funds of our community members within 48 hours and in return, we will offer a $200,000 bug bounty,” Akropolis said. “We will take measures to protect your identity as required. If you decide not to cooperate we will pursue criminal action and contact law enforcement.” <\/p>\n

TechRepublic: <\/strong>How to secure your Zoom account with two-factor authentication<\/a> <\/p>\n

There is no word as of yet, over 48 hours later, if the hacker responsible has accepted this proposal — or what Akropolis’ next course of action may be. At the time of writing, the stolen Dai coins<\/a> are still being held in a blacklisted, attacker-controlled wallet.  <\/p>\n

In a project update<\/a> on November 16, Akropolis said the threat actor was able to exploit the “flawed handling of the deposit logic<\/a> in the SavingsModule smart contract.” <\/p>\n

“The exploitation leads to a large number of pool tokens minted without being backed by valuable assets,” the company added.  <\/p>\n

Checks for deposit tokens and whitelist functions have now been implemented. Akropolis is currently working on adding test coverage for staking pools, boosting security check-ups, and deciding on how to compensate users. The platform is also on the hunt for two new senior developers to join the team.  <\/p>\n

ZDNet has reached out to Akropolis for additional comment and will update when we hear back.<\/p>\n

Previous and related coverage <\/h3>\n
\n

Have a tip?<\/strong> Get in touch securely via WhatsApp | Signal at +447713 025 499, or over at Keybase: charlie0<\/p>\n

\n

READ MORE HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Akropolis has not yet gone to law enforcement, giving the hacker time to consider the proposal.
\nREAD MORE HERE…<\/p>\n","protected":false},"author":2,"featured_media":38230,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[62],"tags":[],"class_list":["post-38229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-zdnet-security"],"yoast_head":"\nCryptocurrency platform dangles \u2018bug bounty\u2019 carrot to hacker who stole $2 million 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security & Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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