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Bug: Defi-Protokoll Compound accidentally sends users 90 million dollars

Defi: Money blessing for the compound community. (Photo: BestForBest / Shutterstock)
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Compound Labs that The company behind the Defi-Protokoll Compound, asks users to return incorrectly received money. Up to 90 million US dollars could be gone.

Robert Leshner, founder of Krypto – Compound Labs, which is responsible for the popular defi-staking protocol Compound, is likely to be in despair. With carrot and stick, Leshner tried on Thursday to persuade compound users to return money that actually belongs to his company or the compound community. Background: After a faulty update, Compound Coin (Comp) worth a good 90 million dollars were unintentionally distributed to the community.

Compound maker: Anyone who does not pay will be reported

“If you have received a large, incorrect amount of Comp due to the Compound Protocol error , please give it back, ”said the compound maker via Twitter. Leshner offered the user on the one hand to be able to keep ten percent of the money. That could be booked as a white hat reward. But there was a hefty warning afterwards. Anyone who does not return the money must expect that this will be reported as income to the US tax authorities (IRS, Internal Revenue Service).

he. The term Doxxing or Doxing comes from the English abbreviation (Docs, Dox) for documents and means the collection and publication of personal data. This can also result in the identification of anonymous persons. In crypto circles this would mean that buyers or traders of cryptocurrencies who have not (yet) reported their income to the tax office are threatened with serious consequences.

Chances of repayment are not bad

Although the reactions to Leshner’s tweet were partly malicious, it cannot be ruled out that Compound could get at least a large part of the lost money back. In a similar case, the Alchemix Defi-Protocol got almost all of its incorrectly distributed rewards back a few months ago. However, it was “only” $ 4.8 million, as CNBC says.

Incidentally, a few hours after his first request / threat, Leshner spoke up again via Twitter and was much more conciliatory. He will “do everything in his power to help the community get something back from their comp,” said Leshner. His first approach was wrong. “Fortunately, the community is much bigger and smarter than me.” He appreciates the ridicule and support, says the Compound Labs founder.

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Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

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