ParaSwap DAO allocates funds for hack victims' compensation

The ParaSwap Augustus v6 contract, which momentarily went live on March 18, contained a critical vulnerability that allowed hackers to drain funds from users who approved the upgrade.

The community behind the decentralized finance (DeFi) aggregator ParaSwap has agreed to compensate hack victims using funds from the treasury. 

On April 4, the ParaSwap decentralized autonomous organization (DAO) pitched the idea of refunding the victims of the Augustus V6 contract vulnerability using its treasury funds.

After a three-day voting period, 96.81% of ParaSwap voters agreed with the DAO’s proposed method of compensating users.

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