Compound protocol has placed $150 million worth of COMP tokens at risk, but a bug fix is likely to remedy the situation after giving the community a scare.
As the decentralized finance (DeFi) market continues to pique the interest of investors across the globe, a few incidents have shone a major spotlight on the vulnerabilities various platforms operating within this space are continually exposed to. For example, it has recently been unveiled that due to a buggy system upgrade, prominent DeFi money market Compound had put approximately $150 million worth of the native COMP tokens at risk of a third-party hack.Even though the error was recognized fairly early as Compound’s developers submitted a fix for the protocol’s bug soon after, it’s worth noting that the upgrade is governed by a seven-day time lock, as a result of which no tangible efforts to resolve the issue could have been enacted until Oct. 7. The proposal t
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