TruFlation offers $500K bounty to recover funds stolen in hack TruFlation offers $500K bounty to recover funds stolen in hack
The decentralized data company is offering a reward for returning the stolen funds or for identifying the hacker in a way that leads to a conviction.
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Updated: Sep. 26, 2024 at 10:16 pm UTC
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Truflation, a decentralized data company, has posted a $500,000 bounty following a $5 million hack on Sept. 25.
The firm is offering a reward for returning the stolen funds or for identifying the hacker in a way that leads to a conviction.
$5 million hack
Truflation revealed in a Sept. 26 post that the attack targeted multiple chains, exploiting the project’s treasury multi-signature and personal wallets.
The firm clarified that its ongoing development, including the launch of its mainnet and Truflation Stream Network, remains unaffected, though it temporarily halted staking services and limited liquidity on its decentralized exchanges (DEXs).
In a public statement, Truflation CEO Stefan Rust confirmed that malware had been injected into a computer, likely during the Token 2049 event in Singapore. Rust assured that customer funds are secure, and the company has since engaged with law enforcement and industry experts to track the attackers.
Bounty deadline
Truflation posted an on-chain message to the hackers, giving them until 08:00 UTC on Sept. 28 to return the stolen funds.
If no contact is made by the deadline, the company will expand the bounty to the public and offer the full $500,000 to anyone who can help identify the hackers and bring them to justice.
In its message, the company expressed gratitude to its community, partners, and whitehat hackers for their support. Rust also invited community members to a live AMA session to address concerns and update them on Truflation’s recovery efforts.
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Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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Backed by Coinbase and Chainlink, Truflation is a leading DRP (Definite Reference Point) protocol focused on establishing economic truth and enabling the tokenization of Real World Assets.
