ChainCatcher news, the algorithmic stablecoin protocol Nirvana Finance announced that its V2 version will officially open to the public at 2 AM Beijing time on December 18 (UTC time December 17 at 6:00 PM). This restart not only completes the full compensation for the victims' funds from the 2022 hacking incident but also introduces a brand new security, governance, and token economic model.In addition, Nirvana V2 has launched a Market Driven Minting (MDM) framework, which ensures that the token ANA has upside potential and limited downside risk through a reserve-backed price floor mechanism. The protocol also plans to gradually expand to assets such as BTC and SOL.Previous news, former security engineer Shakeeb Ahmed was sentenced to 3 years in prison by U.S. District Judge Victor Marrero for attacking two decentralized cryptocurrency exchanges and stealing over $12 million worth of cryptocurrency. This is the first conviction case related to smart contract hacking.In July 2022, Ahmed attacked a cryptocurrency exchange using false pricing data and stole approximately $9 million worth of cryptocurrency. Subsequently, he attacked Nirvana Finance, exploiting a vulnerability in its smart contract to purchase cryptocurrency at a price lower than that set by the contract and sell it to Nirvana at a higher price, stealing nearly all of Nirvana's $3.6 million funds, which led to its closure shortly after being hacked.

ChainCatcher message, OKX stated that during the opening phase of the OKSOL/USDT and OKSOL/SOL spot trading pairs today, due to the lack of limit pricing for the related currency pairs, concentrated buying by some users caused a severe decoupling of the prices of OKSOL and SOL, resulting in user losses.To protect user interests, full compensation will be provided to users who purchased OKSOL at a premium (including the OKSOL/USDT and OKSOL/SOL trading pairs). The specific compensation plan and details will be announced as soon as possible, please pay attention to subsequent announcements.

ChainCatcher news, DEXX official announced on social media that the hacker attack on November 16 affected approximately 12,413 addresses on the Solana, ETH, BASE, and BSC blockchains, resulting in losses including 32,969 SOL, 634.56 ETH, 204.69 BNB, and other tokens. The compensation plan includes:Developing a compensation module, with security guidance features for high-risk users and wallets entering the testing phase for the completion of subsequent compensation work;Continuously tracking hacker addresses and compensating affected users as soon as assets are recovered;80% of the platform's daily revenue will be regularly used for compensation to affected users' associated addresses, with the remaining used to maintain the team's daily operations and development work;Implementing a debt-to-equity conversion plan to provide equity compensation to affected users based on financing valuation;Seeking financing solutions, and once financing is completed, funds will be separately allocated to create a compensation plan for affected users;The platform will airdrop a portion of platform tokens as additional rewards for stolen users.Regarding financing, DEXX officials stated that they are actively pursuing equity financing and have made some progress, coordinating and communicating with potential institutions to support the platform's subsequent compensation and operational work.

ChainCatcher news, according to X Daily News, a Delaware Chancery Court judge has again dismissed Tesla CEO Musk's $55.8 billion compensation plan. The judge ruled based on the following three points:Shareholder votes cannot retroactively validate breaches of fiduciary duty, especially in transactions with conflicts of interest;Tesla did not raise the ratification argument during the trial, making it procedurally invalid;The proxy materials used to solicit votes were misleading, undermining the legitimacy of the voting.Additionally, the court also rejected Tesla's attempt to use shareholder votes as new evidence to overturn the previous ruling. The court emphasized that post-trial evidence cannot be used in this manner, as allowing such a strategy would weaken the deterrent effect of lawsuits aimed at holding corporate leaders accountable for misconduct.

ChainCatcher news, the on-chain trading terminal DEXX has released an update regarding the recent security incident: "DEXX has officially filed a lawsuit, and the SlowMist team is actively assisting law enforcement with the follow-up investigation. At the same time, DEXX is actively discussing a compensation plan. Regarding compensation, the platform makes the following solemn statement:If all assets can be recovered, DEXX will immediately provide full compensation to ensure that users' interests are not affected.If only part of the assets can be recovered, the platform will still fulfill its compensation responsibilities; the specific compensation plan will be determined based on the amount recovered. DEXX is currently mobilizing all resources and efforts to recover the stolen assets and resolve the issue as soon as possible."Previous news, according to SlowMist statistics, the DEXX incident has confirmed over 900 victims, with total losses estimated at 21 million USD.

ChainCatcher news, the FTX bankruptcy case shows that on October 7 at 10:00 AM Eastern Time (10:00 PM Beijing Time), the U.S. Bankruptcy Court in Delaware will hold a confirmation hearing for FTX's bankruptcy plan.On that day, the court will consider confirming the Chapter 11 reorganization plan proposed by FTX and its related disclosure statement plan. If the court confirms the plan, it will allow FTX to "fully pay" over 98% of customers and unsecured creditors with interest based on the dollar price of cryptocurrency assets as of November 11, 2022.In addition, according to U.S. media Protos, the payouts may be executed after three "comprehensive hearings," which aim to discuss consolidating multiple claimants into a unified category, scheduled for October 22, November 20, and December 12.Currently, there are numerous rumors on social media stating that "FTX will start payouts next week," which are untrue.

ChainCatcher news, Penpie stated that deposits and withdrawals on Penpie are still suspended as the platform is undergoing a comprehensive audit by multiple security firms to ensure a safe return to operations. BlockSec, PeckShield, and AstraSec have initiated the audit, and Penpie is in discussions with other companies. Deposits and withdrawals are expected to resume in about two to three weeks, pending the successful completion of these audits. Penpie will also collaborate with Hexagate to integrate real-time monitoring and establish an efficient, proactive response system. Penpie continues to work closely with law enforcement, security firms, partners, and key members of the crypto community (including major exchanges) to trace and freeze funds related to the hack.Additionally, Penpie is taking steps to prepare a post on the Penpie governance forum to discuss a potential compensation plan.Previous news, on September 4, Penpie was hacked, resulting in the theft of 11,113.6 ETH, valued at approximately 27.34 million USD.

ChainCatcher news, Penpie has released a report on the hacking incident, with a total of approximately $27.34 million worth of 11,113.6 ETH stolen. The attacker exploited a security vulnerability on the Penpie platform by manipulating a fake Pendle market to maximize rewards. The vulnerability is located in the batchHarvestMarketRewards() function of the PendleStakingBaseUpg contract, where the attacker manipulated the reward tokens and their quantities by re-entering the depositMarket() function and repeatedly adding new deposits from flash loans. The Penpie team responded quickly, suspending deposit and withdrawal functions, and collaborating with multiple security agencies to trace the stolen funds.Currently, the Penpie frontend has been restored, and the team is working with law enforcement to identify and apprehend the attacker. Additionally, the Penpie team is developing a compensation plan to fairly address the losses of affected users.

ChainCatcher message, WazirX released an update on social platforms regarding the recent security incident: "We thank users for actively participating in the recent voting we initiated since July 27, 2024. We want to clarify that this voting is a preliminary step to understand user opinions and is not legally binding on users or the WazirX platform.We assure users that this voting is not the final result; it is designed solely to collect user feedback, better understand user perspectives, and then take actions that are most beneficial to the community.Our team is currently reviewing all opinions to formulate a plan that truly aligns with the best interests of the community. Our goal is to develop a plan that incorporates the collective voice of users and ensures fair and effective outcomes.We are committed to enhancing transparency and will continuously improve our approach based on user suggestions.Next, we will share a feedback form that will help us better understand the direction that aligns with the best interests of the community."

ChainCatcher message, the cross-chain bridge protocol LI.FI stated on platform X that it has launched a voluntary compensation program, urging users to be vigilant when receiving emails to avoid phishing attacks. No requests will be made to connect your wallet or any links in your email, except for those related to the authentication process.In previous news, LI.FI has lost over 10 million dollars due to a vulnerability.

ChainCatcher message, the Meme project Jungle Doge (JUNGLEdoge) posted on platform X stating that due to the planned airdrop and the tokens for the exchange launch being stolen by hackers, the market has significantly declined, and user transactions have been affected. Therefore, the project team has decided to change to a new contract, establish a new liquidity pool (LP pool), and restore the market capitalization pool to its state before the theft. At the same time, the project team will implement an airdrop compensation plan. The new token has been released, and holders and liquidity providers who meet the snapshot criteria will receive a 1:1 mapped airdrop compensation.

ChainCatcher message, the Blast ecosystem project Bloom announced that it has successfully recovered most of the funds that were previously stolen. The Bloom team stated that after paying a 10% bug bounty, they have recovered $486,000 of the stolen amount, which is 90% of the total ($540,000). All recovered funds will be redistributed to liquidity providers.Bloom will complete the compensation plan for affected LPs within 24 to 48 hours and will release a detailed post-mortem analysis report regarding the reset yield-related vulnerability tomorrow, while upgrading the reset yield feature to address extreme situations.

ChainCatcher news, according to The Block, Sunil Kavuri, a representative of the creditor group of the bankrupt cryptocurrency exchange FTX, has suggested voting against its compensation plan. Sunil Kavuri insists that when FTX filed for bankruptcy, cryptocurrency should be paid in kind rather than based on its dollar value.

ChainCatcher news, according to Cointelegraph, after a jury found Terraform Labs and its co-founder Do Kwon liable in a fraud case with the U.S. SEC, a federal judge in the United States ordered the parties to discuss compensation proposals ranging from millions to billions of dollars. Court documents show that Judge Jed Rakoff of the U.S. District Court for the Southern District of New York stated that the SEC, Kwon, and Terraform's lawyers should appear in court on May 22 to debate the compensation proposals.Previously, the parties had submitted their respective requests regarding disgorged profits, pre-judgment interest, and civil penalties, but the judge allowed the parties to supplement their materials before the court appearance. The SEC is seeking approximately $4.7 billion in disgorged profits and pre-judgment interest, as well as a total of $520 million in civil penalties; Terraform's legal team suggested a civil penalty of $1 million with no disgorged profits.

ChainCatcher news, GM Network announced on social media that the limited supply of 2077 CyberV NFTs has been completely sold out. Due to the high number of participants, some whitelist users encountered interface congestion and error messages during the purchasing process, primarily due to the system pressure caused by the concentrated minting activity.To ensure the fair rights of all participants, GM Network promises to provide airdrop compensation for all whitelist addresses, regardless of whether they successfully minted NFTs during the sale. The compensation plan is as follows:All whitelist users will receive a 100% value GM token airdrop, which will be deducted from the treasury.All whitelist users will also receive additional GM Network ecosystem points, which can be redeemed for GM tokens.Furthermore, all users who experienced failed minting attempts will receive additional compensation.It is reported that more detailed information about the airdrop compensation plan will be announced soon.

ChainCatcher news, cryptocurrency lending company BlockFi has announced the successful completion of its bankruptcy proceedings and the commencement of its bankruptcy plan. BlockFi will begin implementing the measures outlined in the plan, including repaying creditors according to the scheduled terms, working to recover assets from FTX, 3AC, and other companies, continuing to distribute digital assets to customers, and ensuring that customer rights are fairly and equitably distributed.For Wallet customers, they can now withdraw funds. Meanwhile, BlockFi Interest Account (BIA) and loan customers will start receiving their first distributions in early 2024.

ChainCatcher news, according to Cointelegraph, the crypto lending company Celsius Network told the judge at a hearing on October 2 seeking approval for its restructuring plan that it plans to start repaying customers by the end of the year.Celsius's legal advisor Christopher Koenig stated in the opening remarks that the new company, named "NewCo," will receive $450 million in seed funding from the litigation process. Additionally, a document from September 29 shows that Celsius plans to use $2.03 billion in Bitcoin and Ethereum, as well as shares of the new company, to partially repay creditors.The judge presiding over the case is considering whether to approve Celsius's restructuring plan. The plan also requires approval from regulatory agencies. Reports indicate that although the restructuring plan has received support from most creditors and has been passed, it still faces opposition from some creditors.

ChainCatcher news, OKX CEO Star posted on the X platform stating that the platform will compensate 100% of all affected customers for the contract fluctuations on September 13. He said, "Over the past 10 years, our team has been continuously improving the SLA, but due to the complexity of the trading system, we still encounter some minor issues every few months. We are very sorry for this and will strive to improve our stability."It is understood that OKX officially announced the compensation plan for the contract fluctuation incident on the evening of September 14, which will be directly credited to the affected users' fund accounts in the form of USDT before September 20, including compensation for the transaction fees incurred by the users during this trade.

ChainCatcher news, OKX's official Chinese Twitter stated that during the period from 3:38 PM to 3:43 PM (UTC+8) on September 13, there were price anomalies for some contract underlying assets on the platform. After verification, the issue was caused by an abnormal limit price service, which led to some contracts being unable to publish orders normally, resulting in price deviations that triggered liquidation or stop-loss for some users.OKX will compensate users who triggered liquidation or stop-loss due to this issue for their losses. The specific compensation information is as follows:Compensation targets: Users who completed opening positions before 3:38:07 PM (UTC+8) on September 13 and experienced forced liquidation or triggered stop-loss between 3:38:07 PM and 3:43:59 PM, including trading types such as perpetual contracts, delivery contracts, and leveraged trading.Compensation amount: The compensation for liquidated users will be the loss between the marked price at 3:38:06 PM and the forced liquidation price during the service anomaly. The compensation for stop-loss users will be the loss between the marked price at 3:38:06 PM and the stop-loss transaction price during the system anomaly. (Compensation includes the transaction fees incurred by the user for this trade.)Compensation method: Compensation will be directly issued to the user's fund account in the form of USDT before September 20.