Update 07/05/2023 regarding the DEI incident.
07 May 2023, 11:22
Update 07/05/2023 regarding the DEI incident.
We will continue to give regular updates on the situation, and information will be shared as it's examined, but as this exploit created a window where everyone could take action to profit from this attack, rolling everything back takes a lot of time.
We started identifying the factual backing of DEI across all chains and communicating successfully with Whitehats to return a good chunk.
BSC MEV bot returned 1M:
Paladin Security returned 100k:
Adamb returned 600k + (3263) DEUS:
in addition to the backing, you can see live on
If we rolled all of this into the DEI backing to ensure everyone's redemption equally across all chains, the current DEI backing would be 75%
(please understand that the actual backing can only be defined by understanding everyone's balances and calculating the amount of DEI that should be getting returned; as we are still rolling everything up, these values can change; this should give everyone a first estimate, we will continue to analyze onchain data and update you on the progress.
current action plan
1️⃣ Prepare snapshots to reinstate DEI balances of Users that got their LPs drained to let them reclaim their DEI balance.
2️⃣ Create a snapshot of all currently "stuck" DEI (DEI that was bought during the incident and is stuck on bridges or other chains) and prepare a snapshot for them to return their cost basis + bounty.
3️⃣ Create a redemption contract for everyone.
4️⃣ Continue communication with Whitehats or law enforcement to discuss returning funds to increase backing further.
Please remain patient as we prepare these next necessary steps, thanks 🙏