$50M Bounty for TUSD Misappropriation
$50 Million Bounty Launched to Recover Misappropriated TUSD Funds
Hong Kong, May 6, 2025 – A significant security incident has rocked the Web3 ecosystem. Approximately $456 million in TrueUSD (TUSD) stablecoin reserves have been misappropriated. To address this unprecedented breach, a $50 million bounty program has been launched on Web3Bounty.io.
This substantial reward is offered to incentivize the recovery of the stolen assets and bring those responsible to justice. The misappropriation involves Hong Kong-licensed trust companies and a network of intermediaries who allegedly exploited regulatory loopholes. Thousands of TUSD token holders are among the victims.
The Web3Bounty.io Program
Web3Bounty.io provides a platform for whistleblowers, insiders, and investigators to submit credible, original information. Submissions leading directly to the recovery of the funds are eligible for a share of the $50 million bounty pool – roughly 10% of the lost assets. The platform will provide regular updates on recovery progress, and all submissions undergo independent verification before rewards are distributed.
Justin Sun, Founder of TRON, publicly congratulated the launch of Web3Bounty.io, highlighting the importance of tackling Web3 scams and enhancing transparency. You can find his statement on X here.
Codeum's Commitment to Web3 Security
This incident underscores the critical need for robust security measures within the blockchain space. Codeum, a leading blockchain security and development platform, offers a range of services to mitigate such risks:
- Smart contract audits
- KYC verification
- Custom smart contract and DApp development
- Tokenomics and security consultation
- Partnerships with launchpads and crypto agencies
By proactively addressing security vulnerabilities, Codeum helps protect projects and users from potential exploits.
Further Information and Participation
For more details or to submit information, visit www.web3bounty.io.
Disclaimer: Participation is voluntary and at your own risk. All participants must abide by applicable laws and the bounty program’s terms and conditions. This information does not constitute legal advice.
About Web3Bounty.io: Web3Bounty.io is a platform for launching crypto-related bounty programs focused on recovering stolen funds and promoting transparency within the Web3 space. Follow us on X @web3bountyio
Media Contact: Sam Zhang, [email protected]