After more than two and a half months, Hyperliquid killer @Ostium has finally announced a compensation plan for the $23.75 million stolen from the protocol.
TLDR:
Sacrifice whales to fully compensate small holders. Yes—Ostium does not compensate is the whales and super-whales.
As of now, Ostium has only recovered about $650,000 worth of the stolen funds, which is far from the total $23.75 million stolen.
Smart Ostium decided to fully reimburse wallet addresses with losses not exceeding 1,000 USDC. For whales with losses exceeding 1,000 USDC, they can either immediately get back 1,000 USDC and give up their claim to the remaining assets, or wait for the second-stage payout—everyone knows how it goes.
Interestingly, Ostium has already raked in more than $20 million in protocol revenue, yet it says nothing about using protocol revenue to compensate the whales.
You can see the mindset clearly.
#Hacked #Ostium
TLDR:
Sacrifice whales to fully compensate small holders. Yes—Ostium does not compensate is the whales and super-whales.
As of now, Ostium has only recovered about $650,000 worth of the stolen funds, which is far from the total $23.75 million stolen.
Smart Ostium decided to fully reimburse wallet addresses with losses not exceeding 1,000 USDC. For whales with losses exceeding 1,000 USDC, they can either immediately get back 1,000 USDC and give up their claim to the remaining assets, or wait for the second-stage payout—everyone knows how it goes.
Interestingly, Ostium has already raked in more than $20 million in protocol revenue, yet it says nothing about using protocol revenue to compensate the whales.
You can see the mindset clearly.
#Hacked #Ostium
