Update on DEI tokens security breach. Yesterday:.
06 May 2023, 10:41
Update on DEI tokens security breach
Yesterday:
In response to the security breach, all contracts were paused, and DEI tokens on chains were burnt to prevent further damage.
Today:
We are currently in the process of comprehending the actual backing of DEI tokens. To achieve this, snapshots of all DEI balances are taken before the tokens are burnt.
After evaluating all balances, we will formulate a comprehensive recovery and redemption plan.
Important Note:
For users who attempted to arbitrage after the hack and are now stuck, there will be an evaluation, and they may be allowed to reverse these transactions as soon as possible. This action would involve burning the outstanding DEI and increasing the backing of all other users.
Users are advised to remain patient and not interact with current DEI contracts until a concrete redemption plan is available.
The current DEUS v3 system is (and was in the past) isolated from DEI, meaning it is totally unaffected by the events.