IoTeX Implements Bounty for Cross-Bridge Hackers
Raullen Chai, IoTeX co-founder and CEO, announced a new initiative to incentivize hackers to return stolen assets within a tight deadline.
In a bold move, IoTeX, a prominent blockchain platform, has introduced a 10% bounty for cross-bridge hackers who return $4.4 million within 48 hours. This initiative comes as a response to a recent theft that occurred on the platform, prompting IoTeX co-founder and CEO, Raullen Chai, to take a unique approach to recover the stolen funds.
Chai, speaking exclusively to CoinDesk, stated that he would refrain from pressing charges if the stolen assets or their equivalent value are returned within the specified timeframe. This decision highlights IoTeX's commitment to addressing security breaches in a proactive and unconventional manner.
The bounty program aims to encourage hackers to engage with IoTeX in a mutually beneficial manner, fostering a sense of cooperation within the blockchain community. By offering a substantial reward for the safe return of stolen assets, IoTeX seeks to deter future cyber attacks and promote integrity in the ecosystem.