A bug in the compound supply mistakenly rewarded users with $ 70 million in tokens

The protocol for decentralized financial interest (DeFi), Compound Finance reports an error in token distribution as part of its newly implemented Proposition 062, which overreaches liquidity providers with tokens in the double-digit million range.

The update was designed to “COMP Reward Distribution and Bug Fixes” and it was verified without any problems. However, within hours the team observed a “unusual activity”, that “Compound Labs and community members are investigating discrepancies in COMP distribution.”

Despite the events The team emphasized that no funds provided or lent were at risk. Are users of the protocol inform of substantial profits, one of them claiming a deposit of70 million COMP tokens in your account equivalent to $ 20 million.

A bug in the compound supply mistakenly rewarded users with $ 70 million in tokens
A bug in the compound supply mistakenly rewarded users with $ 70 million in tokens

The founder of Compound Labs, Robert Lesner, divided some ideas what happened:

“Proposal 62 and the new contract were written by one community member and reviewed by several other community members. This is the greatest opportunity and the greatest risk for a decentralized protocol: that an open development process allows an error to go into execution ”.

The SushiSwap Supercoder, Mudit Gupta, revealed in a series of tweets that the error was due to a single letter error.

Similar Posts