HomeNEWSSlope announces 10% bounty for wallets' exploiters

Slope announces 10% bounty for wallets’ exploiters


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Popular Solana-based wallet Slope, has announced a 10% bounty for exploiters of its users’ wallets. The protocol made the declaration in a Twitter post on its official handle. However, Slope says the hackers must return the funds stolen through exploitation.

Notably, the protocol vowed not to take legal measures against the hackers. According to Slope wallet, the hackers must produce the siphoned funds within the next 48 hours. The cross-platform wallet also shared an address for the hackers to return the stolen funds. As revealed, the address is DyQ96GwjkHkGSzYEB4NaPk2NxsXyRTMNHKJQd3fziABf. However, as of press time, the hackers are yet to respond to the offering by the protocol.

Recall that the Slope protocol is built and run on the Solana network. A few days ago, the network became a victim of exploitation, which consequently affected Slope wallet. According to reports, nearly 8,000 addresses became affected as a result of the hacking. Additionally, Solana said that several private key information was mistakenly relayed to an application monitoring service. The blockchain service provider, however, promised to thoroughly investigate the circumstances behind the breach.

Notably, Solana added that exploitation only impacted the downloadable wallet app of Slope. It further that the protocol’s hardware still appears safe. However, the hackers stole over $4 million through the security breach. Additionally, Slope added that wallets belonging to some of its employees became affected by the exploitation.

Slope working with necessary protocols to track the exploiters

Worth noting that the firm announced its collaboration with a community-oriented scam reporting protocol, TRM Labs, to trail the exploiters. Similarly, the Solana-based platform also hired Ottersec, a blockchain audit venture, and other security analysts. According to Slope, Ottersec and other analysts tend to work together to avail necessary information about the exploitation. This, according to Slope, helps to enable TRM labs to trail the perpetrators easily.

Slope urges all wallet users to “create a new and unique seed phrase wallet, and transfer all assets to this new wallet.” Additionally, it warned them against using the exact seed phrase on this new wallet they used on Slope. The protocol intends to publish the post-mortem of the exploitation after the completion of a thorough investigation.

As designed, Slope functions as a web-based crypto wallet and browser extension. It usually allows users to easily manage their assets on Solana. Additionally, the protocol enables users to connect and interact with numerous decentralized apps on Solana and other networks.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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