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Garden Finance Faces Potential $5.5 Million Loss Across Multiple Chains

Garden Finance Faces Potential $5.5 Million Loss Across Multiple Chains

Security researcher ZachXBT reports that Garden Finance suffered a multi-chain exploit with stolen assets swapped into non-freezable tokens; the team is offering a 10% bounty for their return.

Summary

Security researcher ZachXBT disclosed that Garden Finance was exploited across several blockchain networks, losing more than $5.5 million. The stolen assets were swiftly converted into non-freezable tokens, hampering recovery efforts. A team-linked address has proposed a 10% white-hat bounty for the safe return of funds, while no official statement has yet been issued by the protocol.

Terms & Concepts
  • White-hat bounty: A reward offered to ethical hackers who help recover stolen funds or identify vulnerabilities without malicious intent.
  • Cross-chain: Refers to transactions or operations that occur across multiple blockchain networks.
  • Non-freezable tokens: Cryptocurrency tokens that cannot be frozen or restricted by any centralized authority, making them harder to recover once stolen.