Cosmos-based Lending Protocol Coslend to Compensate Users Affected in Exploit with $CLND

Cosmos-based lending protocol Coslend released a user loss report and a compensation plan for the protocol exploited incident on June 22nd. Currently, Coslend's underlying asset is worth around $41,751, and the asset will be airdropped to those users who have deposited and repaid after the borrowing and withdrawal functions of Coslend market were paused (block height 858,013). Coslend has recorded every user's loss, and will use $CLND tokens to cover the loss of all affected users . The details will be disclosed when $CLND goes live. Next, the team will relaunch Coslend market, launch $CLND and start liquidity mining program phase 1.
Source

Cosmos

Lending

Security Incidents

Related News
North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
Sei community weighs proposal to deprecate native Cosmos accounts, move to EVM-only model Sei community weighs proposal to deprecate native Cosmos accounts, move to EVM-only model
Bybit hackers move over half the stolen ETH onto Bitcoin, largely using ThorChain Bybit hackers move over half the stolen ETH onto Bitcoin, largely using ThorChain
Stablecoin neobank Infini exploited for $49 million: security analysts Stablecoin neobank Infini exploited for $49 million: security analysts
NoOnes CEO Ray Youssef discloses $8 million exploit weeks after the fact, confirming crypto sleuth ZachXBT's investigation NoOnes CEO Ray Youssef discloses $8 million exploit weeks after the fact, confirming crypto sleuth ZachXBT's investigation
Latest News More More
1 Day Ago Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
2 Days Ago JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
5 Days Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
June 25 Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
June 20 Kraken offers bitcoin ‘staking’ yield via Babylon without wrapping or lending
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open