Poly Network offers $500,000 bug bounty

The as-yet unidentified hacker or hackers appear to have exploited a vulnerability in the digital contracts Poly Network uses to move assets between different blockchains

Poly Network offers $500,000 bug bounty

The as-yet unidentified hacker or hackers appear to have exploited a vulnerability in the digital contracts Poly Network uses to move assets between different blockchains, according to blockchain forensics company Chainalysis

After suffering a heist amounting to $610 million earlier this week, cryptocurrency trading platform Poly Network has confirmed that it offered the hacker or hackers involved a 'bug bounty' of $500,000. The platform has already received most of the amount that was stolen during the theft, termed the biggest yet in the decentralised finance world.

Bug bounty a prize offered to those who help uncover bugs and other lacunae in a digital framework.