Sentiment recovers $870K after negotiations with hacker

Lending protocol Sentiment has managed to recover the stolen funds from the recent hack by offering the hacker a bounty worth $95,000.

In an on-chain transaction on the Arbitrum blockchain, Sentiment

Meanwhile, a community member concluded that the entire fiasco is a result of companies not taking bug bounties seriously and praised the hacker’s efforts for “taking it by force.” On the other hand, another Twitter user described the incident as just “a bug bounty with a criminal step,” and urged companies to offer larger and more transparent bug bounties.

Hackers are redefining bounty programs. Why take smol bounty when big bounty better.

— ru (@ru_defi) April 6, 2023

The incident draws some similarities to the recent Euler Finance hack. On April 4, the Ethereum protocol convinced a hacker to return around 90% of the stolen funds after offering a bounty. The hacker returned around $176.4 million in digital assets while keeping almost $20 million. 

Magazine: US enforcement agencies are turning up the heat on crypto-related crime