Truflation, an innovative decentralized data platform, has announced a substantial bounty of $500,000 in response to a recent significant breach that resulted in the theft of $5 million on September 25.
$5 Million Breach Overview
On September 26, Truflation disclosed the breach, which affected multiple blockchain networks. The attackers exploited vulnerabilities in the company’s treasury multi-signature setup and personal wallets.
The ongoing development activities, including the mainnet launch and Truflation Stream Network, are unaffected by this incident. However, the organization has temporarily suspended staking services and limited liquidity across its decentralized exchanges (DEXs).
In a statement, Truflation’s CEO, Stefan Rust, reported that malware was likely introduced to an internal system during the Token 2049 conference held in Singapore. He assured stakeholders that customer funds remain secure and has involved law enforcement and cybersecurity experts to pursue the culprits.
Bounty and Deadline for Return of Funds
The organization made a public appeal to the hackers via an on-chain message, setting a deadline of 08:00 UTC on September 28 for the return of the stolen assets.
Should there be no response by the specified date, Truflation plans to broaden the scope of the bounty, offering the entire $500,000 reward to anyone who can assist in identifying the hackers and facilitating their apprehension.
Community Support and Engagement
In their message, Truflation expressed gratitude towards its community, partners, and ethical hackers for their unwavering support. CEO Stefan Rust also announced an upcoming live AMA session to discuss concerns and share updates regarding Truflation’s recovery efforts.