ChainSwap announces compensation and ‘deep audit’ plan after $8M exploit
The project will airdrop governance tokens to holders according to balances prior to the hack. Cross-chain asset bridge, ChainSwap, has announced a compensation plan for users after suffering an $8 million loss in its second exploit suffered this month. ChainSwap supports the Ethereum, Polygon and Binance Smart Chain networks.On July 10, the hacker exploited a vulnerability allowing them to steal more than 20 different assets from the liquidity pools of partner exchanges. The incident has impacted the markets for numerous assets, with the tokens of Nord, Razor, Antimatter, and Ora among....
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ChainSwap has experienced another exploit in what has turned out to be a terrifying month for the exchange. The platform which acts as a bridge for assets had succumbed to an exploit earlier this month, and now, only eight days later, ChainSwap has succumbed to another exploit. This time, the attacker made away with $8 […]
The Origin Protocol team has unveiled a compensation plan for its depositors who were adversely affected by the flash loan attack in November. According to the team, there is now a plan to provide compensation equal to 100% of the value deposited to OUSD at the time of the exploit. Two Compensation Plans Still, the team clarifies that one’s OUSD holdings before and after the hack will be a key determinant of the compensation package they will receive. In an update issued via Medium, Micah Alcorn who is the Production Engineer at Origin Protocol says: Approximately two-thirds of....
Cover Protocol will distribute new "coins" to token holders as Binance announces compensation for affected traders. Peer-to-peer coverage market Cover Protocol has published a compensation plan for token holders and liquidity providers affected by the recent hack. As part of the process, the Cover Protocol team took a snapshot at block height 11541218, the last transaction block before the exploit began.Eligible liquidity providers on Uniswap, SushiSwap, and Balancer will receive new COVER tokens based on their share of the liquidity pool on those platforms. Liquidity providers on the....
Hacked DeFi service Furucombo will issue "iou" tokens as part of its compensation plan to repay 22 affected users. Decentralized finance transaction combination tool Furucombo will compensate the victims of a recent “evil contract” exploit that cost the protocol $15 million in stolen funds.Following an internal call with affected users last week, Furucombo released a compensation plan Tuesday, announcing that they will issue 5 million iouCOMBO tokens to the victims of the breach. Issued in the form of ERC-20 tokens, iouCOMBO tokens will represent the rights to claim Furucombo’s COMBO....
In a promising sign for the DeFi space, another project devotes itself to complete user compensation following an exploit In a blog post on Saturday night, Warp Finance — the latest decentralized finance (DeFi) protocol to suffer a smart contract exploit — announced promising strides towards recompensating users following a nearly $8 million flash loan attack. As Cointelegraph reported on Friday, the DeFi protocol, which offers stablecoin loans on liquidity pool token collateral, lost $7.7 million in USDC and DAI when an attacker used multiple flash loans to create liquidity pool tokens,....