Cross-chain interoperability protocol Socket will provide 100% compensation to all users affected by the attack
Cross-chain interoperability protocol Socket announced a user recovery plan on X, which will provide 100% compensation for all users affected by the previous attack.The Socket smart contract vulnerability affected 232 users of 5 different asset types, with a total loss of $3.3 million. However, the recovered funds were valued at $2.2 million when recovered in Ethereum. Socket will contribute $1.1 million on top of that to compensate all affected users and distribute the lost funds to their wallets.Affected users need to sign a message confirming their wallet address and reimbursement amount, connect to the website and their own wallet, and sign to complete the recovery.Previous news: On January 17, cross-chain interoperability protocol Socket was attacked by hackers, resulting in a loss of about $3.3 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Genius Group Ordered to Sell Bitcoin Holdings
Genius Group must sell 10 BTC due to a court order, slashing its crypto treasury and market cap significantly.Unexpected Setback for Genius GroupMarket Cap Falls Below Bitcoin ReservesConcerns About Stability and Transparency

Ethereum Price Sees 4 Straight Red Months
Ethereum has closed four red months in a row, but long-term holders remain hopeful for a rebound.Ethereum’s Tough Streak ContinuesHope on the Horizon for Ethereum Holders

Nexchain Emerges as April’s Best ICO: A New Era for Blockchain
Nexchain is committed to facilitating interoperability from one blockchain to the next through artificial intelligence, allowing for cross-chain communication and operational efficienciesConclusion

Bitcoin Volatility Expected as U.S. Jobs Report Looms
U.S. jobs data and Powell’s speech today could trigger major Bitcoin volatility. Here’s what to watch.What to Expect from Today’s Market MovesWhy Bitcoin Traders Are Watching Closely

Trending news
MoreCrypto prices
More








