Mixin Network Offers Bug Bounty Reward After $200 Million Hack

According crypto news report, Hong Kong-based blockchain platform Mixin Network, which recently fell victim to a major attack resulting in a loss of $200 million in digital assets, has taken an unusual step in its response to the exploit. In an unexpected turn of events, the company has extended an offer of a bug bounty reward to the individual or group responsible for the breach.

In a message posted on Etherscan, Mixin Network conveyed a plea to the exploiter, stating, “Most of our platform assets were users’, and we hope you can refund them. You can keep $20M of the assets as a BUG Bunty Reward for the BUG.” The crypto firm further provided an email address, [email protected], urging the hackers to contact them for more details regarding the bounty reward.

Following the attack on September 23rd, Mixin promptly suspended deposit and withdrawal services for its customers. This halt remained in effect until vulnerabilities were identified, discussed, and subsequently resolved among all network nodes. Additionally, the company confirmed that blockchain security firm SlowMist has been enlisted to aid in the ongoing investigation.

As of September 25th, the Mixin team has pledged to unveil the strategy for addressing the lost assets in the near future. Founder Feng Xiaodong is set to host a live stream in Mandarin on Monday, during which he will delve into the specifics of the exploit.

During the live stream, Xiaodong acknowledged that the Mixin team can presently “only ensure at least half of the assets are secure.” The incident underscores the ever-evolving landscape of cryptocurrency security, prompting companies to adapt and find innovative solutions in the face of adversity.

For further updates and insights, please follow our continued coverage of this developing story.

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