Hector Network, Making ‘D’ in DAO Stands for Ditzy or Duplicitous?
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Hector Network, Making ‘D’ in DAO Stands for Ditzy or Duplicitous?
When a smart contract exploit caused $2.7 million to vanish from funds dedicated to compensating Hector Network investors, hands were initially thrown in the air over Hector’s inability to safeguard the funds.
In fact, Hector Network’s executives had to compensate their investors because only months earlier, the protocol lost $8 million during the Multichain meltdown.
The hack compounded the frustration for investors, who had already seen their treasury dwindle from $110 million to around $16 million.
Following the Multichain episode, investors decided to ‘rage quit’ and put a definitive end to the protocol, but not without compensation.
They had been awaiting compensation for months, and it was finally expected to arrive in a matter of days.
However, they would now apparently have to wait even longer as Hector Network’s executives have decided to postpone the redemption:
As a result of this breach, the redemption process is …
When a smart contract exploit caused $2.7 million to vanish from funds dedicated to compensating Hector Network investors, hands were initially thrown in the air over Hector’s inability to safeguard the funds.
In fact, Hector Network’s executives had to compensate their investors because only months earlier, the protocol lost $8 million during the Multichain meltdown.
The hack compounded the frustration for investors, who had already seen their treasury dwindle from $110 million to around $16 million.
Following the Multichain episode, investors decided to ‘rage quit’ and put a definitive end to the protocol, but not without compensation.
They had been awaiting compensation for months, and it was finally expected to arrive in a matter of days.
However, they would now apparently have to wait even longer as Hector Network’s executives have decided to postpone the redemption:
As a result of this breach, the redemption process is …