THELOGICALINDIAN - Furucombo will affair IOU tokens to atone all the victims afflicted by the Feb 27 hack
Furucombo has announced that they will affair “iouCOMBO” tokens to the victims.
Furucombo to Reimburse Hack
Furucombo was afraid on Feb. 27 for $14 million in ETH and ERC-20 tokens.
This afflicted 22 users who absent their funds. The aggregation absent $1.74 actor of alive basic in the hack.
On Mar. 2, the aggregation announced that they had anchored the accomplishment and after deployed a new proxy acute contract.
The aggregation will atone the victims of the drudge by arising 5 actor IOU tokens. These iouCOMBO tokens will be in the anatomy of ERC-20 tokens and represent the appropriate to affirmation COMBO tokens.
These 5 actor tokens will be allocated to the accretion pool. One actor of the allocated funds will appear from the amount team, while the actual 4 actor will appear from its association advance fund. This allocation will go alive in April afterwards the aegis audits accept been completed.
These iouCOMBO tokens will accept a 360-day linear-vesting period.
For example, if Alice has 1,000 iouCOMBO tokens, back she locks-up her iouCOMBO in the accretion basin on April 14th, she will be able to affirmation 1,000 * (45/360) = 125 COMBO immediately. She can affirmation the actual 875 COMBO gradually in the afterward 315 days.
Additionally, the team has appear the hacking adventure to acknowledged authorities. They are allied with Certora to get a abounding analysis and are gluttonous an added close so that they can accept audits from two altered companies.
On Jan.7, Furucombo raised a sum of $1.85 actor in their berry annular funding.
The bazaar has reacted abnormally to this announcement. Furucombo’s built-in COMBO badge amount is trading at $2.39, bottomward 18.7% in the accomplished 24 hours.
Disclosure: The columnist didn’t authority crypto mentioned in this commodity at the time of press.
