TruFlation, a decentralized data company, is offering a $500,000 bounty in an effort to recover funds stolen in a recent hack. The hack, which occurred on September 25th, resulted in a loss of $5 million. TruFlation is hoping to either retrieve the stolen funds or identify the hacker responsible in a way that leads to a conviction. This bold move by the company showcases their commitment to combating cybercrime and protecting their assets.
Details of the Hack
According to TruFlation’s official statement released on September 26th, the hackers targeted multiple chains within the project, exploiting vulnerabilities in the treasury multi-signature and personal wallets. While the attack did cause disruption to some of the company’s services, including the temporary halt of staking services and limited liquidity on decentralized exchanges, TruFlation assured its customers that ongoing development, such as the launch of its mainnet and TruFlation Stream Network, remains unaffected.
Despite the setback, TruFlation CEO Stefan Rust emphasized that customer funds are secure and that the company is working closely with law enforcement and industry experts to track down the perpetrators. Rust revealed that the malware was likely injected into a computer during the Token 2049 event in Singapore, indicating a sophisticated and targeted attack on the company’s infrastructure.
Bounty Deadline and Recovery Efforts
In an effort to recover the stolen funds, TruFlation has set a deadline for the hackers to return the money by 08:00 UTC on September 28th. If the hackers fail to comply, the company plans to expand the bounty to the public, offering the full $500,000 reward to anyone who can assist in identifying the culprits and bringing them to justice. This proactive approach demonstrates TruFlation’s determination to hold those responsible for the hack accountable and to safeguard their assets and operations.
TruFlation has expressed gratitude towards its community, partners, and whitehat hackers for their support during this challenging time. The company has also invited community members to participate in a live Ask Me Anything (AMA) session to address concerns and provide updates on their recovery efforts. By engaging with their stakeholders and maintaining transparency, TruFlation is working to rebuild trust and confidence in their platform.
Conclusion
In conclusion, TruFlation’s decision to offer a $500,000 bounty to recover stolen funds showcases their commitment to security and resilience in the face of cyber threats. By taking proactive measures to track down the hackers and seek justice, the company is sending a clear message that they will not tolerate criminal activity within their ecosystem. As the deadline for the hackers approaches, all eyes will be on TruFlation to see how they respond and how they continue to strengthen their defenses against future attacks.
