Here's how Defrost Finance plans to refund users following $12M hack

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The Defrost team announced that the funds will be converted into stablecoins before being returned to their rightful owners before the exploit.

) into stablecoins, like DAI, at the on-chain market rate. Then, all stablecoins will be transferred from the Ethereum blockchain into Avalanche.

Apart from these, the team will also be conducting a scan of on-chain data to find out “who owned what” before the attack. After completing the scan work, the Defrost team mentioned that they will be releasing the data to the public. After everything is completed, the team will be deploying a smart contract that will allow users to reclaim their assets which are already converted into stablecoins back to their original wallet addresses.

 

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We've done an Exclusive On-Chain Investigation on the Defrost_Finance's $12M 'Exploit' We found the connection between Defrost Finance and another project that has Rug Pulled $7M in 2021 -Phoenix__PHX They have the same developers:

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เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

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DeFi flash loan hacker liquidates Defrost Finance users causing $12M lossAn unfortunate timing: Defrost Finance investigates flash loan attack on Christmas day. Users are advised against using Defrost V1 and V2 services until further notice. proofofinuerc It's getting ready for next legup Strong consolidation happening! It breakout anytime 💰 They just look fire man, I',m so excited for the results!! $POI proofofinu shib2 The world really needs Scrypto السلام عليكم صديقي يمكنك كسب ما يصل إلى 100٪ - 500٪ عوائد يومية فورية وعقود مستقبلية من خلال إشاراتي المربحة اليومية على كل عملة مشفرة ، أعطي 50-70 إشارة شهريًا بمعدل نجاح 90-95٪. أتمنى أن تنضم إلى قناتي المجانية على برقية انقر على الرابط
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Defrost Finance Drained for $12M - Flash Loan Attack or Rug Pull?The Defrost team said that it is willing to negotiate with the perpetrators, but there're rumors of a rug pull.
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Defrost Finance Says Hacked Funds Have Been ReturnedDeFi protocol Defrost_Finance said funds from last week's hack, which some observers suggested may have been a rug pull, have been returned. sheldonreback reports. Defrost_Finance sheldonreback oooitscrime
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Defrost Finance Hacked in Attack Some Say May Have Been a Rug PullDeFi protocol Defrost_Finance said it was hacked last week, though some observers are suggesting the attack may have been a $12 million rug pull. By sheldonreback Defrost_Finance sheldonreback Join for binance futures trade calls and start making lots of profits on our telegram channel Defrost_Finance sheldonreback Never heard of Defrost Binance. Stick with Saita_Swap and SaitaPro🔥 Defrost_Finance sheldonreback
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India finance minister hospitalised - ET NowIndia's Finance Minister Nirmala Sitharaman has been admitted to the AIIMS hospital in New Delhi, news broadcaster ET Now reported on Monday. Maybe eating some onions would've improved her immunity The moment when the gobar gas wanes off and you realise how many 0s are behind 5 Trillion... May be she forgot to take her daily dose of Gaumutr and Gobar cake. 😏😏
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