The problem with the Major DFI Money Market compound is getting worse, with the P 150 million COMP now at risk due to a buggy upgrade to the protocol that went live last week.
On Sep0 September, Cointelegraph reported that করার 70 million to $ 85 million in COMP tokens were incorrectly awarded to users after bug fixes and updates for “split comp reward distribution.”
Despite the fact that the prize distribution error was quickly identified, the week-long delay in compounding the new regime meant that the error would not be fixed until Oct.
In October, compound founder Robert Lesnar tweeted that 202,472.5 COMPs (valued at about 65 million) were at risk after calling the protocol’s drip function for the first time in almost two months.
The drip function provides tokens stored in the compound reservoir for users, with 0.5 COMP deposited by the reservoir per block. Lesnar noted that the “reserved comp for most users” is in the pool.
This puts the total comp at risk of around 490k, of which 136k are still in control, and 117k are still back in the community (thanks).
– Robert Lesnar (Le Arlesner) October 3, 2021
Sushi-swap developer Mudit Gupta criticized the use of time-lock on the regime on social media and claimed that since the bug was discovered on September 30, about 100 people were aware of the threat posed by the drip function but could not function properly. For time-delay in updating protocols.
Gupta warned of the risks associated with upgradable smart contracts and claimed they were unsuitable for “big” [DeFi] Primitive. ”
This is why timelock is not always the best option in everything. About a hundred people from the first century were aware of this possibility but their hands were tied because of the timelock.
All of these .8..8 m can be eliminated, if not a quarter if malicious actors are involved. https://t.co/xB5T1sjUQ8
– Mudit Gupta (ud Mudit__Gupta) October 3, 2021
“I’ve come to see upgrades as a bug rather than a feature,” he said.
Although Lesnar’s tweet revealed that about 7. 7.7 million worth of COMP protocol was returned after the initial incident, Yarn Finance developer Banteg Approximate One-third of the funds at risk by the drip function have already been claimed by users at UTC around 3:30 p.m.
The total value of COMP tokens at risk by the Bantag protocol bug is now 14 147 million.
Related: Hackers use MFA error to steal from 6,000 Coinbase customers – report
Despite initial detection of the bug, COMP’s price fell sharply from 3% to 30 330 to 28 286 on Sept. 30, according to CoinGecko, the token recovered quickly and traded above 3 340 on Oct. 2.
COMP has lost 7% of its value since tagging a local high of 34 347.5 on October 3, with the last hand changing at 2 322 at the time of writing.