The Briefing Room
General Category => Economy/Business => Topic started by: libertybele on October 02, 2021, 11:45:22 pm
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$89 million in crypto was mistakenly sent out to users of a decentralized finance platform, and now its CEO is asking users to voluntarily send it back
A glitch in an update this week to the decentralized finance platform Compound has led to roughly $89 million worth of a cryptocurrency called COMP to be accidentally sent out to users.
Now the CEO is asking users to voluntarily return the funds.
"If you received a large, incorrect amount of COMP from the Compound protocol error: Please return it to the Compound Timelock," Robert Leshner tweeted. He also threatened to report to the Internal Revenue Service all of those who did not and later apologized for the "bone-headed tweet." Compound and Leshner did not immediately respond to a request for comment.
Compound allows users to lend out their crypto assets and earn interest, and the platform is governed by computer code protocols that are voted on by the community and subject to a seven-day governance process.
The platform is not hosted or run by the company, but across a distributed network of users. As such, there are no admin controls or other tools for the company to halt or reverse the distribution of the digital tokens, Leshner tweeted..........
https://www.msn.com/en-us/news/technology/89-million-in-crypto-was-mistakenly-sent-out-to-users-of-a-decentralized-finance-platform-and-now-its-ceo-is-asking-users-to-voluntarily-send-it-back/ar-AAP36Y6