Of the 29 wallets that were hit in this attack, 25 have been reimbursed from treasury funds for their losses. Those 25 wallets only accounted for $80,000, or 13% of the total value lost. The owners of the remaining four wallets that lost a combined $517,000 have been contacted and offered a deal to compensate them by honoring their losses as angel investors in the protocol.
They would receive LiFi tokens under the same terms as other angel investors in an amount equal to their losses from each wallet. This would also help to mitigate the damage to the platform’s treasury.The Li Finance team reached out to offer a bug bounty to a hacker. The attack appears to have come at an unfortunate time. Li Finance CEO Philipp Zentner told Cointelegraph on March 21 that “We’re literally a week away from our audit,” adding that “we have multiple companies auditing us.”
However, even a thorough audit of the code may not have picked up this particular bug, according to a researcher “Transmissions11” at crypto investment firm Paradigm. He explained in a March 21Related:
With a possible attack, I can also lose Tether?
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