Truflation Offers $500,000 Bounty After Suffering $5 Million Hack

Following a $5 million hack on Sept. 25, Truflation, a decentralized infrastructure and data company, is offering a $500,000 bounty in an attempt to retrieve the stolen funds.

The bounty will be awarded for either the retrieval or return of stolen funds or “to the person who can identify the hacker in a way that leads to a conviction in the courts.”

In a post, Truflation reiterated that the hack does not impact its development or upcoming mainnet launch. However, staking services are currently halted, and there is limited liquidity on its DEXs.

Blockchain security firm SlowMist reported that the project was hacked “on multiple chains through the treasury multi-sig and personal wallets.” In response to the exploit, Truflation said that it is working with law enforcement and industry partners to clarify the incident and take action against the perpetrators.

The company has sent an onchain message to the hackers in an attempt to negotiate, setting a deadline of Sept 28 to return the funds and avoid further law enforcement actions.

Truflation CEO Stefan Rust said, “We had some malware injected onto the computer, most likely somewhere in Singapore during Token 2049,” going on to clarify that “there are no customer funds that are at risk.”

The company recently raised $6 million in funding through a series A round led by Laser Digital and Redbear Ventures in February.