As announced by the team behind the project, the hacker “was able to leverage a bug in our codebase and attack pBTC” on the Binance Smart Chain (BSC). Ultimately, he managed to take 277 bitcoins, most of which were collateral.
Even with today’s prices when the cryptocurrency dumped by $4,000 in 24 hours, this substantial amount has a USD value of over $12 million.
The project updated later that it had identified the bug, proposed a fix, and was waiting for “everyone to review it.”
pNetwork reassured that all other bridges of its network were not affected and the remaining funds stored are safe. Additionally, the breached bridges should become operational once again soon.
The team also had a message to the “black hat hacker,” offering a “clean” $1.5 million bounty if they return all funds.
4/N To the black hat hacker. Although this is a long shot, we’re offering a clean $1,500,000 bounty if funds are returned.
Finding vulnerabilities is part of the game unfortunately, but we all want DeFi ecosystem to continue growing, returning funds is a step in that direction