Allbridge offers ‘White Hat Bounty’ & Receives Most of Stolen $573K Funds

Allbridge offers 'White Hat Bounty' & Receives Most of Stolen $573 Funds

On April 1st, multi-chain token bridge AllBridge was the victim of a $573K hack as reported by blockchain security companies PeakShield and Certik Alert. The theft of roughly $573K was initiated by manipulating the swap value of Allbridge’s BNB chain pool.

Allbridge offered a reward to the exploiters if they can quickly get back the bulk of the stolen $573K. As a result, the hacker accepted the ‘White Hat Bounty’ offer. Following the exploit Allbridge offered the attacker a bounty and the chance to escape any legal ramifications.

Allbridge confirmed the recovery by tweet on 3rd April. According to it, Allbridge team received nearly $465K worth of 1500 BNB coins, which is the largest portion of stolen $573,000 pilfered. 

Also Allbridge announced that, “The remaining funds will be considered a white hat bounty to this person.” It is made clear that every “BNB received” was changed into Binance USD for usage as compansation.

Also read: Euler Finance Attacker Returns All of the Stolen Funds

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