Ethereum-based Origin offers $1 million bounty on OUSD hacker

The hack of Ethereum-based Origin Protocol earlier this week resulted in  a, “loss of funds of around $7M,” according to Origin Protocol. The company decided to offer a reward of a million dollars to identify the hacker. “We are offering a bounty of $1,000,000 USD to anyone that supplies substantial information or evidence leading to the return of customer funds,” according to Origin Protocol’s update by co-founder Josh Fraser.

The update proceeded to discuss hackers explicitly, implying they are entitled to retain their share of money (around one million dollars) and escape legal prosecution if they return the $6 million or so that were part of public investors.

The update emphasized,

“Remember that you are taking from those that have less. If you examine the wallet addresses that held OUSD, you will realize that many of our users are not degens or whales… Keep Origin’s funds, but don’t punish our users, many of whom were new to crypto.”

Massive flash loan attack occurred through a combination of both Tornado Cash and Renbtc to steal funds. Head of Business Operations and Strategy at Origin Kay Yoo pointed out the reason behind this update is not about company funds, but the customers’.