ChainCatcher news, the Web3 social network Hooked Protocol has released a clarification on the uHGT security incident and a token migration solution. It stated that all user assets in BUSD and HOOK tokens are secure and unaffected, and all operating systems and infrastructure related to the HOOK token are completely unaffected, with in-app experiences and uHGT earnings remaining valid.Additionally, the team will deploy a new token contract (uHGT_v2) to replace the original uHGT token contract. The new token uHGT_v2 balance will be mapped 1:1 to the original uHGT balance based on an on-chain snapshot taken before the security incident. During the transition, users can still exchange uHGT for BUSD within the app.During the redeployment process, on-chain transactions may be briefly paused for a few days and will resume immediately after completion. During the migration, a fixed exchange rate is set at 0.000002 BUSD per uHGT token. (Source link)

ChainCatcher news, the Web3 social network Hooked Protocol has indicated that it has noticed a minor security issue with its uHGT token, and the team has deployed a fix to address this issue. Funds in BUSD and HOOK are safe. Hooked Protocol will soon deploy a new in-game token to resolve this issue. An explanatory statement will be released shortly.It is reported that both HGT and uHGT are non-transferable tokens within the ecosystem, with uHGT originating from the mechanism that manages HGT liquidity. However, scientists discovered a vulnerability that allowed uHGT to be traded and created a pool on Pancakeswap, although the official team does not acknowledge this. In this incident, the address (0x3b8...a38b) sold 5,720,534,771.207 uHGT through Pancakeswap at 20:06 Beijing time, profiting 65,000 BUSD, which caused the uHGT price to plummet by 99.99%. (Source link)

ChainCatcher message, the Hooked Protocol, which will be announced in its Discord community during the Binance IEO, has upgraded its wallet, and the BUSD assets in the application will be stored using a cold wallet structure to better ensure everyone's security.In addition, Hooked stated that to prevent witch attacks, user applications to convert over 800,000 Gold to uHGT will trigger a review process. The official also reiterated that HGT and uHGT are non-transferable tokens within the DApp and are not intended for speculative trading purposes.It is reported that some community users previously discovered that uHGT could be purchased through Pancake. (Source link)