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Post: Curio’s Fund Compensation Program: Addressing the Smart Contract Exploit

Curio’s Fund Compensation Program: Addressing the Smart Contract Exploit

Key Points:

  • Curio plans to implement a fund compensation program for affected liquidity providers.
  • A smart contract exploit resulted in the theft of $16 million in digital assets from the real-world asset (RWA) liquidity firm.
  • The vulnerability was related to voting power privileges within a MakerDAO-based smart contract used by Curio.
  • Curio reassured users that only the Ethereum side was impacted, with Polkadot and Curio Chain contracts remaining secure.

Curio’s Fund Compensation Program:

Curio has announced a fund compensation program to assist affected liquidity providers, which may take up to a year to complete. This initiative aims to address the financial losses incurred by the exploit and provide support to those impacted in the community.

Smart Contract Exploit and Vulnerability:

Curio experienced a smart contract exploit that exploited a critical vulnerability linked to voting power privileges in a MakerDAO-based smart contract. This breach led to the theft of $16 million in digital assets, prompting the company to take immediate action to mitigate the consequences.

Security Measures and Reassurance:

Although the exploit had severe implications, Curio assured its users that only the Ethereum side was affected by the breach. The company emphasized the security of its Polkadot and Curio Chain contracts, reassuring the community about the integrity and safety of these platforms despite the incident.

Hot Take:

Curio’s swift response to the exploit demonstrates its commitment to transparency and accountability towards its community. Implementing a fund compensation program reinforces the company’s dedication to mitigating the impact of such incidents, aiming to restore trust and confidence among affected stakeholders.

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