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DForce reimburses its users after assets have been recovered from a $ 25 million hack

April 28, 2020

According to reports DForce’s decentralized finance protocol has reimbursed all users who were recently hit by a $ 25 million hack.

After a Tweet April 27: “More than 90% of the assets were distributed to users in less than 24 hours. 100% of users have restored their assets“”

April 19 A hacker could breach dForce within three hours and drain almost 99.5% of the saved funds. As Cointelegraph previously reported, the hacker used a known vulnerability in the ERC-777 token standard, known as a re-entry attack, and its target was stablecoin ImBTC.

DForce reimburses its users after assets have been recovered from a $ 25 million hackDForce reimburses its users after assets have been recovered from a $ 25 million hack

Three days after the attack On April 21, the hacker returned the money to dForce for accidentally revealing his identity during a transfer.

Funds will be disbursed after the publication of an “asset redistribution plan” announced earlier this week.

Refund planning and processing with increasing criticism

Even after the funds have been recovered, the blockchain and cryptocurrency community continues to fire on dForce, especially since many consider dForce to be a “copy” of another similar DeFi platform, Compound.

Brian Kerr, CEO of the cross-platform DeFi project Kava Labs, commented on the dForce hack and wrote:

“The dForce team copied the code they didn’t understand from Compound, illegally made it available as their own code, exchanged parts of it without identifying security problems, and then marketed it to the world without first performing very basic audits to have.”

Kerr added: “The fault lies with both the dForce team and the users. DForce didn’t understand what they were doing and marketed an unsafe product.”

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