About two weeks ago, Cypher Protocol was attacked by an as-of-yet unknown bad actor, who stole over $1 million worth of crypto through a smart contract exploit.
Since then, both the project’s devs and the community have attempted to reach out to the attacker via social media and impromptu NFTs. However, the perpetrator did not deign to reply, prompting Cypher Protocol devs to switch to a new course of action: dumping the consequences of their poor security onto their community.
This Is The Way
Yesterday evening, Cypher Protocol devs laid out their recovery plan, comprised of two stages.
In response to our recent exploit, Cypher is fast tracking an IDO.
Here’s the game plan. pic.twitter.com/DFnJFvj4zD
— cypher ©️ (@cypher_protocol) August 23, 2023
The first stage consists of a “pro rata redemption package” that will allow Cypher Protocol users to withdraw some of their assets still available on the platform. However, since Cypher does not have nearly enough assets to repay
We współpracy z: https://cryptopotato.com/cypher-protocol-will-pass-exploit-losses-off-to-its-community/
