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Mixin Network Offers $20 Million Bug Bounty to Hackers

Press Releases Crypto News BeInCrypto Mixin Network Offers $20 Million Bug Bounty to Hackers

Mixin Network, a blockchain protocol that became a victim of a $200 million exploit, has offered the hacker 10% of the amount as a bug bounty.

Although many crypto protocols suffered from large hacks this year, some hackers prefer settling with the project’s team and keeping a specific amount as a white hat reward.

Mixin Network Reveals Losses Smaller Than Previously Expected

The X (Twitter) account of the Mixin Network had maintained radio silence since Sept. 25, when it lost $200 million to hackers. However, today, the team informed through its X account that it has completed most of the tally work, and the amount lost is smaller than previously believed. Mixin Network wrote:

“After several days, we have completed most of the asset tally work, and the situation is much more optimistic than expected. The losses are not as significant as estimated. Again, we remind everyone to avoid making transactions, market making, etc., on Mixin Network, for now, to prevent unnecessary losses.

“Regarding the asset losses, we can only take responsibility through action besides apologizing. At the same time, being responsible has always been Mixin’s attitude. Specific reimbursement rules still need some time.”

Blockchain Communications Start With Hacker

Besides not giving information on the reimbursement of users, the company did not specify how much was lost. However, Mixin Network is trying to contact the hackers through blockchain messages.

It has asked the hackers to keep $20 million worth of assets as bug bounty and return the remaining amount.

Mixin Network message to hackers | Source: Etherscan

Along with the Mixin network team,

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Author: Harsh Notariya

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