Ribbon DOV vault was attacked causing a loss of $2.7 million, Aevo opens a six-month claim window

【Blockchain Rhythm】Aevo officially just released an important announcement: The old version of the Ribbon DOV vault on the platform was hacked on December 12th, resulting in a loss of approximately $2.7 million. The attack was caused by a vulnerability in the smart contract update, but the platform’s operations were not affected and continue to run stably.

The most severely affected are Ribbon vault users—these vaults lost about 32% of their total assets due to this attack. The official has immediately disabled all Ribbon vaults, and users are required to withdraw funds following the standard process. Note that withdrawal operations require completing a contract upgrade first, with the upgrade version to be launched next week. The specific date will be announced separately.

For affected users, Aevo has established a claims window of six months (December 12, 2024, to June 12, 2026). The compensation plan is as follows: after the six-month claims period ends, the DAO will liquidate all remaining assets and distribute them to users who have withdrawn, with the maximum compensation amount reaching 19% of the missing assets or the remaining available amount (whichever is lower). This means users have ample time to submit claim applications, and subsequent compensation distribution will be based on the actual available assets.

AEVO-1.19%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
GasFeeCryervip
· 7h ago
$2.7 million is gone, and it's really over. Contract vulnerabilities are truly the norm in DeFi. --- Six-month claim window? That will have to wait until next summer. How much will the coin price drop during that time? --- 32% lost directly... Ribbon users are really screwed this time. Heartbreaking. --- Another smart contract vulnerability, every time it's like this. When will these projects become more reliable? --- The platform itself being unaffected is already good, but how will they compensate for the 32% loss by users? Can they really compensate? --- Withdrawal still requires waiting for an upgrade. This move is really incredible.
View OriginalReply0
NotGonnaMakeItvip
· 12h ago
2.7 million gone, this is the result of trusting the process. --- Again, contract vulnerabilities and waiting for upgrades. Playing these vault products is becoming more and more exhausting. --- 32% lost directly. It takes six months to claim compensation. I am a victim, and I am also desperate. --- It's okay as long as Aevo is still operating. At least it didn't run away, but this time we should learn our lesson. --- Every time they say the platform is stable. Really? As long as user assets are unstable. --- Six-month claim period? Probably more trouble waiting around the corner.
View OriginalReply0
ProbablyNothingvip
· 12h ago
Another smart contract vulnerability, this time with a 32% loss. It's a bit painful for Ribbon users. The six-month claim window is quite considerate, but I wonder how the DAO will ultimately compensate. Contract audits really need to be taken seriously; these incidents are becoming more and more frequent. Aevo's transparency this time is okay; as long as the platform itself is fine, it's good. I'm just worried that there might be some issues in the subsequent compensation process. $2.7 million USD. Luckily, it's just the old version of the vault; if it were the new version, it would be a huge loss.
View OriginalReply0
RektDetectivevip
· 12h ago
2.7 million lost, 32% evaporated directly, this is the price of trusting DeFi Contract upgrade next week? When can users withdraw now? This progress is a bit slow Six-month claim window... another half-year wait to see the compensation plan, really hopeless Old vulnerabilities can still be exploited, is auditing just a joke? This round of Ribbon is completely done for, who would dare to enter Aevo's vaults in the future? Here's the problem: do they need to upgrade the contract again before withdrawal? Is this another trap? A 32% loss... how desperate must these users be, especially when they were supposed to have stable returns It's another story of "the platform is fine, but users are screwed"
View OriginalReply0
ChainWanderingPoetvip
· 12h ago
Gone back into the Ribbon trap again, 2.7 million USD... You really can't trust smart contracts --- 32% gone directly, how painful is that, claiming compensation takes six months, truly incredible --- Contract vulnerabilities are always like this, just changing a version can lose millions, what about audits? --- Platform stable operation, what a joke, users suffer huge losses and still say it's stable --- Waiting half a year for compensation? By then the coin price will have dropped again, how do you calculate this? --- It's smart contracts, DAOs, and upgrades all over again, giving me a headache. Paying directly is much simpler
View OriginalReply0
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)