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Jimbos Team Up With US Homeland Security To Recover $7.5M Lost In A Flash Loan Exploit

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  • The investigative team has announced a bounty of $800,000 to anyone who gives the information about the exploiter. 
  • Furthermore, they’re expanding their reach in other jurisdictions.

The investigative team has announced a bounty of $800,000 to anyone who gives the information about the exploiter.  Furthermore, they’re expanding their reach in other jurisdictions.

Jimbos Protocol has taken the onus of finding the hacker who exploited its protocol and siphoned off millions of dollars last weekend. The Arbitrum-based application platform registered a case with the New York branch of Homeland Security to nab the perpetrator.

In a message posted on Twitter, they addressed the attacker saying that they warned him before and offered a bounty so they could focus on the loopholes of the protocol. But now, they would take the judiciary route to find him. However, the post said that they can take back the complaint if the hacker returns the funds. If that doesn’t happen, they’ll let law enforcement take its course.

Following the $7.5 million flash loan exploit, Jimbos decided to work with the Department of Homeland Security. They associated with the government body after 3 days of the occurrence and 2 weeks after the official launch of the platform. 

In addition to that, the firm is opening more cases in other jurisdictions in collaboration with law enforcement in the United States. It has sweetened the pot for people who could help in finding the exploiter by offering a 10% bounty which is worth $800,000. 

Popular Blockchain sleuth Ogle has got associated with the recovery process. In the past, he has also helped Euler Finance in a similar incident. In his recent post, he said that they know who this person is. He also said that most likely, the attacker will return the assets after keeping just 10% of them. It’s a logical thing to do than to risk prison and loss of all the 

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