The SafeMoon neighborhood has slammed a meaningless replace on the current $9 million exploit.
On March 28, the SafeMoon protocol suffered a contract vulnerability exploit. The vulnerability, often known as the “public burn bug,” enabled individuals with enough data to empty liquidity from the platform.
Firm CEO John Karony issued an announcement the next day, saying his crew had patched the exploit. He referred to as on customers to remain affected person and warranted them their funds have been secure.
SafeMoon neighborhood unimpressed
Since Karony’s assertion, SafeMoon has issued six statements — on March 29, March 30, March 31, April 3, April 4, and April 11 — most of which adopted an identical construction and format.
The latest statement continued calling for persistence whereas mentioning that “nice progress” had been made — as detailed in an replace final week. It ended by teasing “thrilling new merchandise” within the pipeline.
“As we proceed engaged on the restoration of the LP funds, we respect that this can be a difficult state of affairs and that individuals would possibly really feel pissed off.”
The corporate disabled Twitter replies on March 28 — the day of the liquidity exploit. Nonetheless, the SafeMoon neighborhood has been venting their frustration on Reddit.
In a Reddit post on the matter, one Redditor doubted whether or not SafeMoon may get well the misplaced funds.
“In the event that they haven’t get well [sic] the cash by now, it means they by no means will. They will’t reverse the switch.”
A mess of different customers slammed the repetitive updates that seemingly led nowhere. The frustration was obvious from one person who questioned the crew’s efforts to revive normality.
“What detailed replace from final week is he speaking about. That is actually the identical blah blah blah message.”
Lengthy-running controversies
In September 2021, following a sequence of missed product launch deadlines, the then CTO, Hank Wyatt, resigned — throwing the undertaking’s future in jeopardy.
By April 2022, a number of scandals emerged, together with paid influencers pumping and dumping the token and allegations of senior crew members stealing funds — with on-chain sleuthing suggesting Thomas “Papa” Smith had pocketed $143 million.
SFM fell 24% in worth because the exploit. The token is down 95% from its all-time excessive of $0.00338272, achieved on Jan 5, 2022.
The put up SafeMoon community frustrated over meaningless updates after $9M contract exploit appeared first on CryptoSlate.
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