Nirvana plans to launch the V2 mainnet in mid-October and initiate the victim compensation process

ChainCatcher news, Nirvana Finance announced its recovery plan following the hack of its protocol in July 2022. In July 2022, hacker Shakeeb Ahmed stole approximately $3.5 million in stablecoins by manipulating the protocol's pricing mechanism.

After collaborating with the U.S. Department of Justice, Department of Homeland Security, and IRS, Nirvana successfully recovered the stolen funds and secured a three-year prison sentence for Ahmed, who was also ordered to return the cryptocurrency and pay $3.4 million in restitution. Nirvana plans to launch the V2 mainnet in mid-October and initiate the victim compensation process.