Eureka Trading offers $3 million bounty to retrieve looted crypto
Crypto trading platform Eureka Trading is offering a bounty of over $3 million for the recovery of stolen crypto from its platform. The founder said he was the victim of a private key leak and crypto hack that resulted in $15 million being stolen.
Derivatives-focused crypto trading platform Eureka Trading has posted a $3 million bounty to help recover funds it lost as a result of a hack.
The platform’s founder Kuan Sun tweeted about the bounty on April 16, saying that the value of bounty can be even higher depending on the type of help provided.
Crypto Bounty as a last resort
The offering of a bounty is another trend among crypto platforms that are quickly offering financial incentives to recover funds. There have been a number of incidents in the market in recent weeks, with hackers returning the funds after negotiating with the teams. There have even been cases where the hackers have apologized for the incident.
One of the most notable such events in 2023 has to do with the Sentiment hack, a DeFi platform. The hacker had stolen nearly $1 million, and returned nearly 90% of the funds. Prior to this, both Euler and Allbridge saw their attackers return funds.
What is Eureka Trading?
Eureka Trading is a specialist provider of financial derivatives services in the crypto industry, calling itself the first of its kind. It claims to have over $500 million in assets under management, with a monthly turnover of over $50 billion.
According to the founder, Eureka Trading was hacked for around 15 million dollars. He tweeted that he was the victim of a private key leak, which saw the attacker make off with the funds. He also noted that there was some information about the attacker, but not enough to identify what had taken place.
Q1 2023 Crypto Hack Top $300 Million
2023 has been a busy year for hacks. In the first quarter of the year, hackers managed to steal over $320 million, according to blockchain security firm CertiK. Ethereum was the biggest target of these hacks, accounting for around $221 million in losses.
NFT hacks and exploits are also growing, which is understandable given the interest in the niche. Bad actors often conduct phishing attacks on social media to compromise wallets and find valuable NFTs.
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