Euler Finance encourages ethical hacking through reward system

03/15/2023 14:32 • Metaverse Matters • 83 views

On March 15th, the loan agreement Euler Finance continued to release information to hackers on the chain. Euler said that the simplest way is to return 90% of the DAI and ETH under your control to the EulerDAO vault address, and 10% as a white hat hacker reward. Then, the investigation will be stopped, and the focus can be shifted to distributing funds to the agreement users without resorting to legal channels.

Euler: If a hacker returns 90% of the stolen DAI and ETH, the remaining 10% can be used as a white hat hacker reward

Analysis based on this information:

Euler Finance, a decentralized finance (DeFi) platform that provides automated market-making (AMM) liquidity pools, made a bold move to encourage ethical hacking to increase the security of its platform. In a statement released on March 15th, Euler Finance offered a reward to white hat hackers who could return 90% of the DAI and ETH under their control to the EulerDAO vault address. Euler Finance has been struggling with several attacks, and it seems like the platform is taking a new approach to address these issues.

The message suggests that Euler Finance is willing to negotiate with the hackers and reward them for their efforts if they agree to follow certain terms. It appears that the company is taking a proactive approach to cybersecurity by incentivizing good behavior while discouraging malicious activities. The statement implies that Euler Finance values transparency and cooperation over legal interventions as a means to solve issues. This could be an interesting strategy that sets a precedent in the DeFi industry.

Additionally, Euler Finance’s approach demonstrates a willingness to learn from previous attacks and take appropriate measures to prevent them from happening again. It’s a smart move to take advantage of the expertise of ethical hackers and invite them to identify vulnerabilities in exchange for a reward. This is an effective way to detect and address problems before bad actors can exploit them. Euler Finance understands the importance of building trust and confidence in its users, and this method could help them achieve that goal.

In conclusion, Euler Finance’s decision to incentivize ethical hacking may pay off in the long run. The company has shown that it is willing to work towards a more secure and dependable platform. This new approach aligns with the ethos of the DeFi industry, which values transparency, fairness, and openness. Euler Finance is setting an excellent example for other DeFi platforms to follow as they look for innovative ways to address the persistent threats of cyber threats.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/15/euler-finance-encourages-ethical-hacking-through-reward-system/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Euler Finance encourages ethical hacking through reward system

Euler: If a hacker returns 90% of the stolen DAI and ETH, the remaining 10% can be used as a white hat hacker reward

Recommended articles