DeFi protocol Unizen to provide ‘immediate reimbursement’ after $2.1M hack
DeFi protocol Unizen announced that it will issue an immediate refund to users who lost their funds to an exploit this weekend.
Decentralized finance (DeFi) protocol Unizen announced that it would reimburse its users who lost 750,000 or less “as soon as humanly possible” after the platform got compromised, losing about $2.1 million in user funds.
On March 9, blockchain analytics firm PeckShield flagged an “approve issue” with the DeFi platform, reporting that over $2 million had already been drained. The security firm urged users to revoke the approvals from the trade aggregator to avoid further loss. Security company SlowMist estimated the exploit losses to be around $2.1 million and noted that the attacker swapped the Tether (USDT) for the stablecoin DAI (DAI).
A day later, the DeFi protocol sent an on-chain message to the hacker, offering a 20% bounty in exchange for returning the remaining stolen funds. The protocol also said they are already working with law enforcement and forensic experts to determine the hacker’s identity.
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