The DeFi protocol Exactly Protocol was hacked. The hacker stole $7.3 million of user funds. To find the hacker, Exactly Protocol is offering a $700,000 bounty. The team explained how the hack happened. There was a vulnerability in a contract that allowed the hacker to bypass security checks. The hacker then took user funds. Now, Exactly Protocol wants to improve security and rebuild user trust. The bounty program should give insights to help prevent future attacks. Exactly Protocol promises to protect user funds better and repay those affected.
https://twitter.com/ExactlyProtocol/status/1694119614634954993?
Exactly Protocol Implements Fix for Exploit Vulnerability
Exactly Protocol fixed the vulnerability that allowed the recent hack. They fixed it quickly, within a day.
Exactly Protocol tried to talk to the hacker about returning the funds. But the hacker did not respond.
So Exactly Protocol started a bounty program offering $700,000 for information about the hacker. This is to help get the funds back.
They are also working with Chainalysis to track the stolen assets.
Exactly Protocol wants to secure user funds and pay back those affected.
They will use lessons from this hack to improve security. This shows the need for strong security in DeFi.
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