Crypto News :
Multi-chain token bridge, Allbridge, has offered a bounty to the hackers who stole $573,000 in crypto assets on April 1. The company has taken a conciliatory approach, actively monitoring wallets and transactions linked to the hackers and enlisting the help of partners and the crypto community.
Allbridge has also been communicating with affected projects and working with lawyers and law enforcement agencies to recover the stolen funds.
Blockchain security firm Peckshield first noticed the attack and drew Allbridge’s attention to the manipulation of the BNB Chain pool’s swap price.
The attacker made off with over $282,000 in Binance USD and $290,868 in Tether from the pool. CertiK provided a more detailed analysis of the hack, which involved obtaining a $7.5 million BUSD flash loan and making deposits into BUSD and USDT liquidity pools.
Allbridge temporarily suspended activity on the platform and developed a web interface for liquidity providers to withdraw assets from the token bridge. However, the company has reassured users that only the BNB Chain pool was affected.
This news of Allbridge’s bounty for the hackers who stole from their platform, along with their efforts to recover the funds, is expected to attract the attention of the cryptocurrency community and law enforcement agencies alike.
