DeFi loses $35M in a day: Are ‘bounties’ inviting more hacks?

An ongoing hacking spree has claimed another three victims in the past 24 hours, with a total of over $35 million lost.

Verus bridge has lost over $7.5 million, just two months after being hit by a similar hack which claimed $11 million. Proceeds of the May exploit were partially returned following a 25% bounty offer.

Now, AFX is offering a 30% bounty in response to losing $24 million USDC from its Arbitrum bridge.

In an increasingly bleak landscape for legitimate security researchers, such generous offers are, at best, insulting, and, at worst, may even tempt those with such skills to the dark side.

Read more: Across, Allbridge, TeleSwap lost $5.7M to bridge hacks in past week

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