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The founder of a lending and borrowing protocol claims that the protocol error is the cause of the accidental distribution of tens of millions of dollars of crypto assets to investors.
In a Tweeter, Robert Leshner says that those who received a “large and incorrect” amount of compound tokens (COMP) due to a bug should return crypto assets. Otherwise, it will be reported as income to the Internal Revenue Service.
“If you received a large and incorrect amount of COMP from the Compound protocol error:
Please send it back to the dialed timelock (0x6d903f6003cca6255D85CcA4D3Billée146dC33925). Keep 10% as a white hat.
Otherwise, it’s reported as income to the IRS, and most of you are doxed. “
Leshner said that the maximum loss that the decentralized finance platform (DeFi) could suffer is 280,000 COMP tokens. According to CoinGecko, COMP is trading at nearly $ 330 at the time of writing, which equates to a maximum possible loss of $ 92.4 million.
The Fault in the distribution of COMP tokens comes from a bug that appeared after Compound rolled out the update to Proposition 62. The upgrade is intended to correct an unwanted market conditions issue caused by the way the platform -form distributes COMP tokens.
“A few hours ago, Proposition 62 went into effect, updating the contract of the controller, which distributes COMP to protocol users.
The controller’s new contract contains a bug, causing some users to receive far too many COMPs. “
Leshner said that all crypto assets locked on the DeFi platform smart contracts are safe.
“All assets provided, assets borrowed and positions are completely unaffected. Users don’t have to worry about their funds; the only risk is that you (or another user) will receive an unfairly large amount of COMP. “
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Featured Image: Shutterstock / chanchai howharn / Vladimir Sazonov
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