Compound Finance Suffers Bug Leading To ~$50M Token Distribution
Compound Finance (COMP) has seemingly suffered a token distribution bug after introducing and passing a recent governance vote that addressed rewards distribution, Proposal 62. Shortly thereafter, Compound reported in a tweet that there was unusual behavior regarding COMP distribution following the vote, but that “no supplied/borrowed funds are at risk.” The funds that are in jeopardy due to the bug sit only in the Comptroller contract, which means that there is a total cap of 280,000 COMP tokens that are at risk. However, that’s still a hefty number, worth over $80M USD....
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Compound Finance (COMP) was the latest victim of a bug that led to millions worth of tokens lost. The bug had affected the latest rewards distribution round that saw an additional $50 million worth of COMP tokens distributed. About 280,000 tokens were reported to be at risk after Proposal 062 was executed, leading to discrepancies […]
Compound Finance’s native token COMP was among the biggest gainers in the decentralized finance space on Wednesday. The fourth-largest DeFi token by market cap surged by more than 10 percent, hitting an intraday high of $154.08 as traders assessed a flurry of upside fundamentals around it. A pseudonymous analyst noted that the Compound protocol lured […]
Proposal 064 seeks to repair the token distribution bug introduced during Proposal 062 once and for all. Compound Finance announced the passing of Proposal 064 on Thursday, titled the "Fix COMP Accrual Bug." The proposal states that this update will attempt to “patch the bug introduced in Proposal 62 and pessimistically allow COMP reward withdrawals until the bad COMP accruals can be fixed.”The proposal, which was written primarily by the same community members who proposed the original upgrade, received unanimous COMP votes of 1,037,107 for and 0 against from 27 key addresses including....
It is expected that the total figure of tokens could rise to north of $85 million. Decentralized finance (DeFi) interest rate protocol Compound Finance has reported a token distribution bug within its newly implemented Proposal 062, which is over-rewarding suppliers into the tens of millions of dollars. The upgrade was designed to “split COMP rewards distribution and bug fixes” and was fully verified without issues. However, within hours, the team noted “unusual activity,” stating that “Compound Labs and members of the community are investigating discrepancies in the COMP....
Alpha Finance Lab’s recent integration with Binance Smart Chain and Compound Finance triggered an 85% rally in the protocol's ALPHA governance token. Alpha Finance Lab (ALPHA) experienced a price breakout on Feb. 25 as a series of significant partnerships has brought renewed interest in the cross-chain DeFi platform. Data from Cointelegraph Markets and TradingView shows that following the announcements, ALPHA price surged to $1.78 but Bitcoin's recent struggle to hold $50,000 as support led to a sell-off among altcoins and ALPHA currently trades at $1.31.ALPHA/USDT daily chart. Source:....