Following a $2.1 million hack, DeFi protocol Unizen will offer “immediate reimbursement.”

DeFi protocol Unizen declared that it will promptly reimburse users who lost money this weekend due to an exploit.
The e-wallet Unizen, which uses the DeFi protocol, declared that it will pay back users who lost no more than $750,000 “as soon as humanly possible” following the platform’s hack, which resulted in the loss of 2.1 million user cash.

PeckShield, a blockchain analytics company, said that more over $2 million had already been spent on the DeFi network on March 9 and noted a “approve issue.” In order to prevent additional losses, the security company advised consumers to cancel their authorization with the trading aggregator. Security firm Slow Mist saw that the attacker switched the Tether USDT and calculated the exploit losses to be roughly $2.1 million.

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The hacker received an on-chain message from the DeFi protocol one day later, providing a 20% bounty in
Although the bounty discussions are still in progress, the DeFi protocol promptly reimbursed the hacking victims. The company declared on March 11 that it would restore full functionality to 99% of the impacted users as soon as feasible.

“The same wallets that were impacted will receive reimbursement for the remaining ones right away. Although we want to begin distributions today, we are taking our time, being meticulous, and going through each distribution one at a time,” they added.

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Sean Noga, the CEO and founder of Unizen, lent money to the business so that it could reimburse the victims of the hack, according to the statement. Refunds for users who lost less than $750,000 will begin to be issued on March 11.

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